Exploration & Production | Quarterly / Earnings Reports
Newfield's Q1 Results 'Exceed Expectations'
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Newfield Exploration Company has reported its unaudited first quarter 2013 financial results and provided an update on its operations.
First Quarter Financial SummaryFor the first quarter, the Company posted a net loss of $8 million, or $0.06 per diluted share (all per share amounts are on a diluted basis). Net income for the first quarter includes a net unrealized loss on commodity derivatives of $111 million ($69 million after-tax), or $0.51 per share. Without the impact of this item, net income for the first quarter of 2013 would have been $61 million, or $0.45 per diluted share.
Revenues for the first quarter of 2013 were $651 million. Net cash provided by operating activities before changes in operating assets and liabilities was $323 million.
First Quarter Sales SummaryNewfield's…
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