Newfield Exploration (NFX -8.9%) slides sharply after reporting a massive Q4 loss driven by a...

|About: Newfield Exploration Co. (NFX)|By:, SA News Editor

Newfield Exploration (NFX -8.9%) slides sharply after reporting a massive Q4 loss driven by a $1.5B non-cash ceiling test writedown associated with the carrying value of its domestic proved reserves. Analysts at Jefferies note adjusted EPS were well below analyst views, and cite higher depreciation, depletion and amortization as the cause.