Newfield CEO Says 'Not Stressed' by Current Prices

The transcript discusses the strategic planning and management of oil assets in response to market volatility. It covers the company's approach to handling fluctuating oil prices, asset management, and growth strategies. The discussion includes cost efficiency measures, hedging strategies, and the importance of infrastructure and capacity planning. The company emphasizes flexibility in operations and the ability to adapt to changing market conditions, ensuring sustainable growth and efficient resource management.

What is the company's approach when oil prices are around $47 a barrel?

• Increase production rapidly

• Maintain a cautious strategy

• Halt all operations

• Sell off assets immediately

How does the company plan to respond if oil prices rise to $60?

• Increase operational activity

• Reduce the number of rigs

• Sell more assets

• Stop all investments

What is the company's stance on selling Bakken assets?

• They have already sold all assets

• They will sell if prices drop below $30

• They have no current need to sell

• They plan to sell immediately

What is the expected impact on service costs if oil prices rise?

• Service costs will decrease

• Service costs will be unaffected

• Service costs will remain stable

• Service costs will increase

How much of the cost efficiency improvements does the company expect to retain?

• About half

• All of it

• A quarter

• None of it

What is the company's hedging strategy for 2017?

• Not hedged at all

• Fully hedged

• 30% hedged

• 50% hedged

What infrastructure measure has the company taken to ensure oil movement?

• Built a new refinery

• Installed an oil facility for 50,000 barrels a day

• Relied solely on third-party pipelines

• Stopped all oil transportation