Newfield Exploration Company is in independent oil & gas production company that focuses on the acquisition and drilling of oil & gas producing properties. The company focuses primarily on natural gas acquisitions and drilling opportunities in the Anadarko and Arkoma basins of the mid-US, the Gulf Coast, Rocky Mountains, and Gulf of Mexico. NFX's strategy has been to move increasingly toward low-risk, low-potential natural gas drilling opportunities over time while keeping a small but not insignificant portfolio of higher-risk, higher-reward opportunities. Their onshore continental properties are generally lower risk and the company benefits from efficient use of drilling technology and operational management rather than from reaping the potential rewards of a risky play. Higher risk operations are generally the deepwater and off-coast properties such as those in the Gulf of Mexico.
The company is largely a natural gas producer as gas wells are around 73% of proved reserves and gas accounts for some 78% of production. Rising natural gas prices have been a particular boon to the company, and with this tailwind behind them the company continues to invest largely in the promising Woodford Shale (an area which they entered sooner than competitors), Monument Butte, and Mountain Front Wash plays in the mid-continent while dabbling in international and deepwater plays in Malaysia & China and the Gulf of Mexico, respectively.(Read more at Wikinvest )