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Slideshow Secondary Stock Offerings

By The Online Investor Staff, updated Fri., Mar. 6, 7:33 AM

Slide #25. Newfield Exploration Secondary Offering

Company: Newfield Exploration (NYSE:NFX)
Date announced: 2/26/2015
Shares Offered: 22,000,000
Date of Pricing: 2/26/2015
Price Per Share: $33
Secondary Offering Details: Newfield Exploration (NYSE: NFX) today announced that it is commencing, subject to market conditions, a registered underwritten public offering of 18,000,000 shares of its common stock. The underwriter intends to offer the shares from time to time for sale in one or more transactions on the New York Stock Exchange, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices. Newfield expects to grant the underwriter a 30-day option to purchase up to 2,700,000 additional shares of its common stock. The net proceeds from the offering will be used to repay amounts outstanding under Newfield's credit facility and money market lines of credit and for general corporate purposes. - updated 2/26 - Newfield Exploration (NYSE: NFX) announced the pricing of an underwritten public offering of 22,000,000 shares of its common stock, which was upsized from the previously announced offering of 18,000,000 shares. The underwriter intends to offer the shares from time to time for sale in one or more transactions on the New York Stock Exchange, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices. The total gross proceeds of the offering (before underwriter's discounts and commissions and estimated offering expenses) will be approximately $726 million. Newfield granted the underwriter a 30-day option to purchase up to 3,300,000 additional shares of its common stock.

Newfield Exploration is an independent energy company engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids in North America. Co.'s principal areas of operation include the Mid-Continent, the Rocky Mountains and the onshore Gulf Coast. As of Dec 31 2013, Co. had proved reserves of 612.0 million barrels of oil equivalent, which consisted of 270.0 million barrels of oil and condensate, 1,648.00 billion cubic feet of natural gas, and 68.0 million barrels of natural gas liquids.
Open the NFX Page at The Online Investor »

Company Name:  Newfield Exploration Co.
Website:  www.newfield.com
Sector:  Oil & Gas Exploration & Production
Number of ETFs Holding NFX:  56
Total Market Value Held by ETFs:  $293.14M
Total Market Capitalization:  $4.53B
% of Market Cap. Held by ETFs:  6.48%
 

Open the NFX Page at The Online Investor (in a new window) »

March 6, 2015    7:33 AM Eastern
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Buy (3.26 out of 4)
59th percentile
(ranked higher than approx. 59% of all stocks covered)
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