NFX
Newfield Exploration Co.NYSE
1d
5d
1m
6m
1y
5y
10y
Advanced Chart
  • Wed, Nov. 30, 7:30 PM
    • Analysts say today's agreement to curb oil production will elevate prices through at least H1 2017, and the first to pounce on higher prices by expanding drilling will be U.S. shale explorers.
    • In shale fields across the U.S., production costs have been cut roughly in half since 2014, when Saudi Arabia raised output in an attempt to drive higher-cost shale producers out of the market, but instead of killing the U.S. shale industry, the ensuing price war made shale a leaner and meaner rival.
    • As an example, Concho Resources (NYSE:CXO) CEO Tim Leach says his company is on track to raise production 5% by year’s end, even though it is spending 7% less than originally budgeted for 2016.
    • Continental Resources' (NYSE:CLR) Harold Hamm says U.S. oil production will rise in the wake of OPEC’s cut, and rising prices could unlock some of the thousands of drilled but uncompleted wells in the U.S.; some of CLR's ~175 uncompleted wells now will be completed in light of OPEC’s decision and the improved price outlook but the company will not add rigs.
    • “As you move up the price curve and you get more confident of the outlook for future pricing, we’ll be able to add activity as cash flows grow," says Newfield Exploration (NYSE:NFX) CEO Lee Boothby.
    • Among other shale-focused companies that enjoyed huge gains today: WLL, PE, OAS, SN, CRC, FANG, RSPP, PXD, XEC, EPE, WPX.
    | Wed, Nov. 30, 7:30 PM | 44 Comments
  • Wed, Nov. 30, 2:30 PM
    • Oil and gas names continue to surge following the news that OPEC will cut production.
    • Among the 36 energy stocks in the benchmark SPDR Energy ETF, 13 are up by at least 10%: MRO +21.6%, RIG +19.6%, MUR +15.7%, DVN +15.2%, NFX +15.2%, HES +14.8%, APC +13.6%, HAL +13.6%, CXO +11.3%, XEC +10.9%, EOG +10.5%, COP +10.4%, CHK +10%.
    • Continental Resources (CLR +23.6%) soars to a 52-week high, making founder and CEO Harold Hamm, already the wealthiest U.S. energy billionaire, another $3B richer.
    • Offshore drillers are broadly sporting double-digit gains: ESV +24.8%, ATW +20.6%, RIGP +18.7%, SDRL +16.5%, DO +15.7%, RDC +15%.
    • "For all E&P stocks, this is a bullish call for sure, because price is directly correlated with cash flow," says Luana Siegfried, energy equity research associate at Raymond James, which sees U.S. crude reaching $60/bbl by year-end.
    • MarketWatch's Philip van Doorn writes that pending earnings estimate increases from analysts ought to set a floor under the energy sector and support even higher prices for oil stocks.
    | Wed, Nov. 30, 2:30 PM | 70 Comments
  • Tue, Nov. 8, 11:13 AM
    • Oklahoma’s oil and gas regulator says it plans to shut some disposal wells and reduce the volume of others in response to Sunday’s earthquake near the Cushing oil hub.
    • The Oklahoma Corporation Commission says its plan covers 700 sq. miles but does not say how many wells were affected; when a quake of similar magnitude hit the state in September, the agency ordered 37 wells shut over a 500 sq. mile area.
    • Pipeline operator Magellan Midstream Partners (NYSE:MMP) quickly resumed normal operations at Cushing following a controlled shutdown of its assets after the quake, while Kinder Morgan (NYSE:KMI) and Enbridge (NYSE:ENB) said their facilities were not affected.
    • Oklahoma's top oil and gas producers include CLR, CHK, DVN, MRO, NFX, XEC and SD.
    | Tue, Nov. 8, 11:13 AM | 61 Comments
  • Tue, Nov. 1, 4:26 PM
    • Newfield Exploration (NYSE:NFX): Q3 EPS of $0.45 beats by $0.22.
    • Revenue of $392M (+4.0% Y/Y) misses by $8.58M.
    • Press Release
    | Tue, Nov. 1, 4:26 PM
  • Mon, Oct. 31, 5:35 PM
  • Tue, Oct. 18, 6:57 PM
    • Enerplus (NYSE:ERF) is said to be divesting its position in the Marcellus shale, and while the proceeds from a potential sale could be used to pare down debt, TD Securities analyst Aaron Bilkoski thinks ERF could be in position to make an acquisition that improves its drilling inventory and cash flow per share.
    • Bilkoski speculates that Newfield Exploration's (NYSE:NFX) Bakken assets would interest ERF, as such a purchase likely would prove to be accretive and transform ERF into an oil-weighted North Dakota Bakken pure-play.
    • Given ERF's previous success in the Bakken, including North Dakota's highest average initial production well results on existing acreage, "it stands to reason that the Bakken would be an area that Enerplus would like to expand its footprint if the right asset (and right valuation) presented itself," Bilkoski writes.
    • The analyst also thought SM Energy's (NYSE:SM) Bakken holdings might prove attractive to ERF, but that notion could be off the table following today's $785M sale of North Dakota assets to Oasis Petroleum.
    | Tue, Oct. 18, 6:57 PM | 1 Comment
  • Fri, Oct. 14, 5:23 PM
    • Newfield Exploration (NYSE:NFX) CEO Lee Bootby says he does not expect a major ramp-up of oil production in Oklahoma’s hot new shale plays any time soon, even as companies invest billions of dollars in the region.
    • Crude prices near $50/bblare not high enough for explorers to start taking on the kind of debt needed to significantly accelerate drilling, and it may be a year or two before companies learn enough about the Scoop and Stack’s underground geology to gear up production, Boothby tells Bloomberg.
    • NFX has five rigs operating now in the Oklahoma shale fields and could quickly double that, the CEO says, but he is cautiousabout moving too quickly after two years of pain for the industry caused by low oil prices.
    | Fri, Oct. 14, 5:23 PM | 2 Comments
  • Thu, Oct. 13, 7:15 PM
    • The biggest threat to the rally in oil stocks might be more production from E&P companies drilling in the U.S. shale, Credit Suisse analysts say.
    • A clear benefit of the price cycle has been the vastly improved efficiency and productivity of shale, but shale "may ultimately be too productive as WTI approaches $70/bbl," the firm says as it lowers its long-term WTI forecast to $62.50/bbl from $67.50.
    • Credit Suisse says names that continue to demonstrate resource improvement at the low-end of the cost curve, namely in the Permian and STACK plays, remain attractive, such as Concho Resources (NYSE:CXO), Devon Energy (NYSE:DVN), Newfield Exploration (NYSE:NFX) and Pioneer Natural Resources (NYSE:PXD).
    • The firm downgrades Carrizo Oil & Gas (NASDAQ:CRZO) and Sanchez Energy (NYSE:SN) to Neutral from Outperform, and Laredo Petroleum (NYSE:LPI) to Underperform from Neutral, following relative outperformance vs. peers.
    | Thu, Oct. 13, 7:15 PM | 14 Comments
  • Tue, Sep. 13, 10:48 AM
    • U.S. and Oklahoma state officials are lowering by 22 the number of injection wells ordered to be shut in at an area where a 5.8-magnitude earthquake occurred on Sept. 3.
    • State officials say the 27 wastewater wells ordered to be shut compared with the shutdown of 37 wastewater injection wells announced within hours of the quake earlier this month, while the EPA ordered the shut-in of five wells in its area of jurisdiction, down from 17 shut-ins it announced earlier this month.
    • The mandatory shut-ins are expected to last at least six months and may become permanent, depending on new data that is collected.
    • PetroQuest Energy (NYSE:PQ) reportedly has been the only publicly traded U.S. company among the operators affected by regulators' orders.
    • Oklahoma's top oil and gas producers include CLR, CHK, DVN, MRO, NFX, XEC and SD.
    | Tue, Sep. 13, 10:48 AM | 4 Comments
  • Tue, Sep. 6, 12:39 PM
    • A backlash against fracking in Oklahoma could grow following this weekend's 5.6-magnitude, earthquake as the U.S. Geological Survey examines whether the record-breaking tremor was triggered by the underground disposal of wastewater from oil and gas production.
    • The USGS says it "cannot currently conclude whether or not this particular earthquake was caused by industrial-related, human activities. However, we do know that many earthquakes in Oklahoma have been triggered by wastewater fluid injection.”
    • “They are going to push the industry to come up with some permanent solutions,” says Michael Lynch of Strategic Energy & Economic Research. “It’s hard to believe Oklahoma would move to ban fracking, but I can see where they would say to people that they have to do something else with the wastewater."
    • PetroQuest Energy (PQ -3%) was ordered to shut four of its disposal wells in Oklahoma, and was the only publicly traded U.S. company among the operators affected by state regulators' orders to suspend a total of 37 wastewater disposal wells.
    • Oklahoma's leading oil and gas producers include CLR, CHK, DVN, MRO, NFX, XEC and SD.
    | Tue, Sep. 6, 12:39 PM | 51 Comments
  • Tue, Aug. 30, 6:52 PM
    • Earlier fears that some energy companies might not be able to secure new lines of credit because of the collapse in oil prices seem to be a thing of the past; in fact, banks are willing to lend but energy companies do not seem particularly eager to borrow, says Stifel's Daniel Guffy and his analyst team.
    • Banks have sought to work through the debt challenges in the energy end markets, as forcing a bankruptcy risks a liquidation that would not come close to recovering the loan value; banks seem willing to lend again as the fall redetermination begins, but E&P companies have little appetite to add leverage, although this could shift as E&P fundamentals improve, Stifel says.
    • Companies in Stifel's coverage that have chosen to take a defensive posture by reigning in capex and curbing growth to protect balance sheets and/or preserve liquidity include Buy-rated CRZO, EGN, NFX and XEC, as well as Hold-rated CLR, COG, CRK and PQ.
    | Tue, Aug. 30, 6:52 PM | 3 Comments
  • Mon, Aug. 29, 6:25 PM
    • Williams Capital believes oil industry fundamentals are solid despite current commodity price levels but is cautious overall and advises investors not to chase the recent run at current valuations.
    • However, the firm recommends select underappreciated companies with lower expectations and re-rating potential, and thinks companies situated in core resource plays that can demonstrate further capital efficiency improvements with catalysts will continue to garner top valuations and M&A premiums.
    • Two of Williams' favorites are SM Energy (NYSE:SM), which the firm says remains one of the cheapest names in the sector with a solid balance sheet and assets as well as a conservative management team, and Newfield Exploration (NYSE:NFX), which Williams sees thriving through the current downturn given its strong balance sheet, ample financial liquidity and strong hedge book.
    • Also initiated with Buy ratings: Cabot Oil & Gas (NYSE:COG), Energen (NYSE:EGN), Gulfport Energy (NASDAQ:GPOR), Oasis Petroleum (NYSE:OAS), PDC Energy (NASDAQ:PDCE), Pioneer Natural Resources (NYSE:PXD).
    • Driven largely by valuation, Williams assigns Hold ratings on Diamondback Energy (NASDAQ:FANG), Gastar Exploration (NYSEMKT:GST), Laredo Petroleum (NYSE:LPI), Parsley Energy (NYSE:PE), Rice Energy (NYSE:RICE) and Cimarex Energy (NYSE:XEC).
    | Mon, Aug. 29, 6:25 PM
  • Wed, Aug. 3, 8:36 AM
    • Newfield Explpration (NYSE:NFX) agrees to sell all of its Texas assets for a combined ~$390M in two separate deals including NFX's unconventional assets in the Eagle Ford Shale and its conventional natural gas assets in south and west Texas; current net daily production from the combined assets is ~12.7K boe/day.
    • NFX -3.1% premarket following Q2 results in which the company beat earnings expectations on 19% Y/Y lower revenue, raised its 2016 production outlook, citing stronger performance from existing assets and the recently acquired assets in the Anadarko Basin STACK play, and raised full-year capex guidance to $700M-$750M from $625M-$675M.
    | Wed, Aug. 3, 8:36 AM
  • Tue, Aug. 2, 5:04 PM
    • Newfield Exploration (NYSE:NFX): Q2 EPS of $0.32 beats by $0.17.
    • Revenue of $381M (-18.8% Y/Y) misses by $22.2M.
    • Press Release
    | Tue, Aug. 2, 5:04 PM
  • Mon, Aug. 1, 5:35 PM
  • Wed, Jul. 13, 3:19 PM
    • Whiting Petroleum (WLL -2.3%) is upgraded to Outperform from Neutral with a $14 price target, up from $13, at Credit Suisse, which says the stock's pullback following the recent debt swap has provided a compelling entry point.
    • The firm says WLL's extensive inventory in the core of the Williston coupled with improving type curves from larger completions provide compelling near-term catalysts, as drilling activity should accelerate in 2017 at the latest; asset sales remain another key catalyst, with remaining assets on the block including North Ward Estes and the monetization of WLL’s Williston Basin gas plants.
    • Credit Suisse also sees strong upside potential for Concho Resources (CXO -1%), Pioneer Natural Resources (PXD -1.7%) and Newfield Exploration (NFX -1.1%) as well performance improves in the Permian and STACK.
    • WLL and other oil companies are broadly lower after WTI crude fell below $45/bbl as EIA weekly storage data showed a surprise rise in stockpiles.
    | Wed, Jul. 13, 3:19 PM | 7 Comments