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Wednesday, February 13, 2013

Newfield Exploration to focus on its U.S. assets, (NYSE: NFX)

Newfield Exploration Co said on Wednesday it will seek strategic alternatives for its international offshore oil and gas production assets in Malaysia and China to focus on its U.S. assets. "This action reflects the confidence we have in our domestic portfolio and the substantial opportunities we see across our liquids-rich domestic resource areas," Chief Executive Lee Boothby said in a statement.

Newfield Exploration Company (Newfield) is an independent energy company engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids. Shares of NFX traded higher by 1.22% or $0.36/share to $29.79. In the past year, the shares have traded as low as $23.56 and as high as $42.47. On average, 1785370 shares of NFX exchange hands on a given day and today's volume is recorded at 859757.