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Newfield Exploration Increases Domestic Capital Budget

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July 17, 2014

Newfield Exploration Co. (NYSE: NFX) increased its domestic capital budget for the year, the company said July 17.

The capital budget was increased by about $100 million, to $1.7 billion, the company said.

The total reflects the exclusion of capitalized interest, overhead and acquisitions, the company said. The capital budget will support increased drilling. Net production in the second quarter was 12.1 million barrels of oil equivalent (MMboe), higher than the midpoint production guidance of 1 MMboe, Newfield said. In fact, the production forecast was raised--to the range of 46.5 ...

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