What I see today is a very positive inflection point. Our transition to an oil company is real and more than half of our production will now be derived from high-value oil and liquids production. This is great news and we're excited about what this means for our future.As you know, Newfield has certainly changed and evolved over time. We've transitioned from a Gulf of Mexico start up nearly 25 years ago to a company today with core, onshore North American resource plays, lucrative assets in Southeast Asia, and a deep inventory in both oil and natural gas drilling opportunities. We've more than doubled our oil production over the last 4 years, we've transitioned from a company driving growth from natural gas to a company that is driving growth from oil, and we've done it largely organically. We have thousands of low-risk oil development locations that are ready to drill today in our core development areas and a recent assessment results show very exciting early returns in the Cana Woodford, Eagle Ford Shale and in 2 in new plays in the Central Basin region of the Uinta Basin.
Newfield Exploration Management Discusses Q2 2012 Results - Earnings Call Transcript
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