Newfield results: Beat analyst expectations
Newfield falters amid liquids shift
22 February 2012 07:28 GMT
Newfield set to turn back on Gulf of Mexico assets
10 February 2012 01:17 GMT
Newfield set for 'US Gulf sale'
06 February 2012 03:02 GMT
Newfield oil hope from Pearl
24 February 2012 01:40 GMT
By News wires
24 April 2012 22:19 GMT
The independent oil and gas producer also backed its strong full-year outlook, with oil production forecast to rise 20% to 292-302 billion cubic feet equivalent, Reuters reported.
First-quarter net income was $116 million, or $0.86 per share, compared with a loss of $17 million, or $0.13 per share last year.
Excluding items, it earned $0.91 per share.
Oil and gas revenue rose 24% to $678 million.
Analysts had expected the Houston-based company to report a profit of $0.76 per share on revenue of $686.1 million, according to analysts surveyed by Thompson Reuters.
Shares of the company, which have lost more than 11% of their value in the last six months, closed at $33.71 on the New York Stock Exchange on Tuesday.
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