Newfield Exploration Company (NFX) announced a 125,000 net acre position in the Anadarko Basin of Oklahoma that is prospective for the Cana Woodford Shale. This increases its total position in the Woodford Shale to 300,000 net acres.
Newfield Exploration Company has allocated $300 million in capital here in 2012 and plans to operate seven rigs. The company said that its acreage is located southeast of the current development activity in Canadian and Grady Counties, and is in both the wet gas and oil windows of the play.
Newfield Exploration Company was working on building a position in a “stealth” play in 2011, and has apparently decided to go public on this play.