- Newfield Exploration (NFX -4%) slides after updating its production and capital investment outlook for 2014-16, including plans to spend ~$1.6B in 2014.
- Production is expected at 44M-48M boe, or 10%-20% higher than 2013 estimated production of ~40M boe; 2014 domestic liquids production is seen increasing 30% Y/Y.
- NFX plans 2014 capex of ~$700M in the Anadarko Basin, its largest investment region; it plans to run eight operated drilling rigs in its SCOOP and STACK plays.
Newfield Exploration -4% after issuing production, capex outlook
Dec 9 2013, 12:23 ET