Monday, May 3, 2010

Newfield: I Completely Missed This One

1Q, 2010 conference call, May 3, 2010.
Mid-year, 2010, operational update. 
July 15, 2012: July, 2012, update.

November 1, 2018: Encana to buy Newfield Exploration in all-stock deal worth $5.5 billion.

November 19, 2015: Newfield, STACK, SCOOP and comparison with the Bakken, Zeits

February 19, 2013:  4Q12 and full-year 2013 operating and financial results.

February 14, 2013: Company will spread $1.5 billion over four domestic plays (Eagle Ford [TX], Bakken [ND], Uinta [UT], Cana Woodford [OK]); $400 million internationally; "all" on liquid plays.

June 14, 2012: Elsewhere, Allen provides a nice update of Newfield's second Charlotte well.

May 30, 2012: CLR acquires significant number of Newfield wells/permits.

November 2, 2011: Newfield wrings its hands over high cost of fracking; says "we've" seen the last of $10 million Bakken wells

July 26, 2011: archived investing news on NFX up to this date.

January 14, 2011: Four nice wells reported in NDIC's daily activity report, this date:
  • 17918, 2,166, Newfield, Clear Creek Federal 1-26H, Bakken
  • 18497, 1,878, Newfield, Ursus 1-20H, Bakken
  • 18641, 1,856, Newfield, Megamouth 1-8H, Siverston, Bakken
  • 18741, 407, Newfield, Dahl 1-5H, Siverston, Bakken
October 20, 2010: Operational update.

August 13, 2010: Another nice Newfield well; IP, 2,955.

Original Post

I completely missed this one the past two years.

The Bakken is Newfield's second largest growth region; the company has 400,000 net acres in the Bakken. Newfield is also moving into the Eagle Ford (south Texas, an afternoon drive south of San Antonio, my current residence -- but I left my heart in the Bakken).

This may be one of the most exciting conference calls I've heard in awhile. The introduction was short on financials but long on prospects.

Very, very exciting.

Newfield was number 16 on the 2009 among top Bakken producers; it appears it has room to grow. Fidelity (MDU) was number 14, and I think MDU only has 56,000 net acres in the Bakken. I could be wrong on those numbers; did not verify.


  1. What do you make of a well that just went through a wellbore survey, produced over 13,000 bop in April, and is still listed as DRL?

  2. I have no idea what to make of it without a file number.

    Remember, the NDIC won't update the DRL to A (and reporting an IP once the well is completed) until it gets the paperwork. The company has 30 days after the month in which the well was completed to provide information to the NDIC.

    I have seen several examples of wells reporting good production and still on DRL status. (And I've seen a lot of wells with poor production and still on DRL status.)