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Newfield's CapEx Bumped Up by $100 MM to Focus on Anadarko Basin
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Newfield Exploration Company has raised its 2014 production guidance, reflecting year-to-date operating momentum across the company.
In addition, the Company provided an interim update on recent acreage additions in the Anadarko Basin.
As a result of new leasing and efficiencies associated with its drilling campaigns, Newfield increased its 2014 domestic capital budget by approximately $100 million to $1.7 billion.
Newfield also reported that its second quarter 2014 net production was 12.1 MMBOE, exceeding its guidance mid-point by approximately 1 MMBOE.
Lee K. Boothby, Newfield Chairman, President and CEO said: "We are executing extremely well across the company today and this momentum is allowing us to increase the production and cash flow growth in our three-year plan.
We are confident…
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