Exploration & Production | Operational Updates | Quarterly / Earnings Reports
Newfield Talks Shale Progress; 2012 Production Totals
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Newfield Exploration Company has reported its unaudited fourth quarter and full-year 2012 financial results and provided an update on its operations.
As previously announced, fourth quarter 2012 results were impacted by two non-cash charges. For the fourth quarter, the Company posted a loss of $1.4 billion, or $10.39 per diluted share (all per share amounts are on a diluted basis). The results were impacted by the following items:
a $1.5 billion non-cash full cost ceiling test writedown associated with the carrying value of domestic proved reserves. The non-cash writedown relates primarily to low natural gas prices, the sale of non-strategic assets and an increase in estimated future operating costs. a $550 million non-cash charge primarily associated with the repatriation of its…- ✓ Full news archive — U.S., Canada & international coverage
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