Stacked for shale success

Aside from its international and offshore production, Newfield had a strong presence in the Arkoma basin in south-east Oklahoma. The oil and gas production there was solid, but prices for both dropped, particularly for natural gas. At that point, according to petroleum engineer Clay Gaspar, Newfield’s Mid-Continent vice president, the company decided to pursue liquids as the preferred commodity and also to transform itself into a company targeting only unconventional opportunities.