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Newfield's Production Hits 13.5 MMBOE in 1Q; Tops Guidance
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Newfield Exploration Company reported its first quarter 2016 unaudited financial and operating results.
Key Points: 1Q16 net domestic production of 13.5 MMBOE topped guidance mid-point by 0.5 MMBOE 1Q16 Anadarko Basin average net production topped 78,400 BOEPD Total oil production was up nearly 20% year-over-year; domestic oil production was up 8% year-over-year- 1Q16 domestic lease operating expense per BOE was down nearly 40% year-over-year Adjusted 1Q16 diluted loss per share of $0.09- Continued successful drilling in northern STACK, two infill spacing pilots planned for 2H16Newfield Chairman Lee K. Boothby said: "Newfield posted solid results for the first quarter and we are delivering on the objectives outlined in our near-term business plan. We have taken strategic steps to…
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