Newfield Exploration (NFX) - Q2 Results

[dan_s]

Newfield announced strong Q2 results. Cash flow from operations beat my forecast by $50 million.

Domestic net production up more than 30% year-over-year; averages 186,700 BOEPD (39% oil, 62% liquids)

Anadarko Basin second quarter net production up more than 45% year-over-year; averages 131,100 BOEPD

Anadarko Basin second quarter net liquids production up more than 50% year-over-year; exceeds 80,000 BOEPD

Anadarko Basin second quarter net crude oil production up more than 40% year-over-year; exceeds 42,000 BOPD

Company achieves surplus of discretionary free cash flow over capital investment of $11 million in second quarter

Newfield raises 2018 expectations for total production and capital investments