Exploration & Production | Finance & Investing | Capital Markets | Capital Expenditure
Newfield Details 2013 Capital Program, Eagle Ford,
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Newfield Exploration Company announced for 2013, the Company plans to invest $1.7 – $1.9 billion (excludes capitalized interest and overhead), with the entire budget substantially allocated to liquids plays. Total company production is expected to range from 44 – 47 million BOE. This compares to 2012 production, adjusted for asset sales, of approximately 47 million BOE. Adjusted for asset sales in 2012, Newfield expects that its 2013 domestic liquids production will increase more than 35%. Natural gas volumes are expected to decline about 14% from 2012 levels due to a continued lack of investment and natural field declines.
The Company's four domestic oil resource plays will receive a capital allocation of $1.4 – $1.5 billion. These areas include the Cana Woodford, Uinta basin, Williston…
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