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

Editors Pick
House Republicans revealed a series of recommendations to address the crisis along the U.S.-Mexico border on Wednesday, although party differences may prevent a final bill from being passed before the August recess. After initially showing a lack of direction, stocks have moved mostly higher over the course of the trading session on Wednesday. Buying interest has remained somewhat subdued, however, limiting the upside for the markets. Businessman David Perdue narrowly defeated eleven-term Congressman Jack Kingston, R-Ga., in a runoff for the Republican Senate nomination in Georgia on Tuesday. With all precincts reporting, unofficial results show Perdue with a slim 50.9 percent to 49.1 percent lead over Kingston.
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.