Newfield Exploration Company (NYSE:NFX) is an independent crude oil and natural gas exploration and production company headquartered in Houston, Texas. Our growth strategy includes:
- Growing reserves through the drilling of a balanced risk/reward portfolio and select acquisitions
- Focusing on select geographic areas
- Controlling operations and costs
- Using advanced technologies
- Attracting and retaining a quality workforce through equity ownership and other performance-based incentives
Our domestic areas of operation include the Anadarko and Arkoma Basins of the Mid-Continent, the Rocky Mountains, onshore U.S. Gulf Coast and the Gulf of Mexico. Our international areas of operation include offshore Malaysia and China.
We were founded in 1989 and went public in 1993. Our sole focus area until the mid-1990s was the shallow waters of the Gulf of Mexico. By year-end 2007, we had total proved reserves of approximately 2.5 Tcfe and more than 90% of those reserves were located onshore in the U.S. Our reserve base is about 73% natural gas and 63% is proved developed.
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