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Newfield Ramping Up SCOOP Spending in 2014; Outlines Billion-Dollar CapEx
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Newfield Exploration Company has updated its "three-year plan" and detailed its production expectations for 2014.
Lee K. Boothby, Newfield Chairman, President and CEO, commented: "Our three-year plan provides strong cash flow and production growth. Last February, we issued our first three-year plan, reflecting confidence in the quality and depth of our asset base as we complete our transition to a domestic resource company. Our growth outlook for 2014-15 is substantially unchanged, and we today introduced guidance for 2016. The execution of our plan through 2016 is expected to yield more than a 20% compound annual growth rate (CAGR) in liquids production and a 25% CAGR in cash flow."
Net production from continuing operations in 2014 is expected to range from 44 – 48 million BOE, or 10 –…
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