Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Newfield Exploration To Pursue Strategic Alternatives For International Assets

RELATED NEWS
Trade NFX now with 

Newfield Exploration Company (NFX: Quote) has authorized the evaluation of strategic alternatives for the company's international assets, which consist of offshore oil and natural gas developments in Malaysia and China.

"The decision to pursue alternatives for Newfield's international assets follows a comprehensive review of the Company's strategy, asset base and future direction with our Board of Directors," said Lee Boothby, Newfield Chairman, President and CEO.

Newfield has engaged Goldman, Sachs & Co. as its advisor to lead the process related to exploring strategic opportunities for its international assets, which may include sale of the assets.

During the fourth quarter, Newfield incurred a non-cash charge for deferred income taxes of about $550 million, related to the company's focus on U.S. operations and its repatriation of accumulated profits from its international subsidiaries.

For the fourth quarter, the company expects to report a net loss of about $1.2 billion or $8.80 per share.

Click here to receive FREE breaking news email alerts for Newfield Exploration and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
After recovering from an initial move to the downside, stocks have moved mostly higher over the course of the trading day on Tuesday. The major average have all turned positive, with the Nasdaq and the S&P 500 bouncing off their worst levels in almost a month. Senate Republicans once again voted Monday to block a Democratic bill aimed at narrowing the national gender wage gap. The Senate voted 52 to 40 in favor of limiting debate on the Paycheck Fairness Act, falling well short of the 60 votes required. After reporting a modest uptick in U.S. producer prices in the previous month, the Labor Department released a report on Tuesday showing that producer prices came in unchanged in the month of August. The Labor Department said its producer price index for final demand was unchanged in August after inching up by 0.1 percent in July.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.