- Sector
- Energy
- Industry
- Oil & Gas Exploration & Production
- Address
-
- IPO Date
- Nov 12, 1993
- Business
- Newfield Exploration Company engages in the exploration, development, and production of petroleum, natural gas, and natural gas liquids. The company offers core products and services including crude oil, natural gas liquids, and natural gas from key unconventional resource plays such as the Anadarko Basin (SCOOP and STACK areas in Oklahoma with approximately 400,000 net acres and 88 thousand barrels of oil equivalent per day of production), Arkoma Basin (147,000 net acres and 16 thousand barrels of oil equivalent per day), Uinta Basin in Utah (217,000 net acres and 15 thousand barrels of oil equivalent per day), and Williston Basin in North Dakota (82,000 net acres and 16 thousand barrels of oil equivalent per day); it previously held minor reserves in the South China Sea. Founded in 1988 by Joe B. Foster and headquartered in The Woodlands, Texas (with historical references to Houston), Newfield operates primarily in the United States Mid-Continent, Rocky Mountains, and onshore Texas regions, targeting liquids-rich shale formations for independent energy producers and stakeholders. In February 2019, Newfield was acquired by Encana Corporation in an all-stock transaction valued at approximately $5.5 billion (with Encana assuming $2.2 billion in debt), creating a multi-basin resource company with enhanced positions in the Permian, STACK/SCOOP, and Montney plays; post-acquisition, Newfield's ticker NFX was delisted, and its assets integrated into what became Ovintiv Inc., North America's premier unconventional resource producer.