Newfield Exploration Company - Onshore Gulf Coast
Percent of 2008 Total Company Reserves: 15%
Percent of 2009e Total Company Production: 23%
Percent of 2009 Capital Budget: 14%
Location: Headquarters in Houston, Texas, with operations in South, West and East Texas.
Focus: Natural gas development and exploration with
an emphasis on several joint ventures that increase access to key acreage.
We've been active onshore Texas since the mid-90s. Today, about 23% of our production comes from this area. We have operations in South Texas, the Val Verde Basin of West Texas and in East Texas. We have a presence in most of the producing trends onshore Texas and our gross production was approximately 225 MMcfe/d at year-end 2008. We have an interest in about 1,000 producing wells and more than 400,000 gross acres in this region. With the weakness in 2009 natural gas prices, our activities in this business unit have been significantly reduced.