Newfield Exploration Co. (NFX) said that it plans to voluntarily curtail about 2.5 Bcfe of its third quarter 2009 production in response to recent low natural gas prices. The curtailments will come primarily from the company's Mid-Continent division.
"Although approximately 75% of our expected third quarter 2009 natural gas production is hedged at nearly $8 per Mcf, we are electing to curtail a portion of our production today," said Lee Boothby, Newfield President and CEO.
The company still expects its full-year 2009 production to be in the upper half of its previous guidance range of 250-260 Bcfe.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.