Newfield Exploration’s Transformation to Oil Producer Is Imminent

This article was originally published by TheStreet, and also appeared on MSN Money, on September 10, 2014

NEW YORK (TheStreet) -- Newfield Exploration's  (NFX_)  transformation to a U.S. producer of oil and and natural-gas liquids, from a gas-focused international exploration and production company, will be complete as soon as it sells its last international asset, which it expects to do this year.

So far, Newfield has sold $2.5 billion of assets that it labeled "non-strategic." Last year, the company sold its Malaysian business for $898 million, and this year, it sold its Granite Wash assets in Oklahoma and the Texas Panhandle for nearly $583 million.

Three Energy Firms to Watch This Earnings Season

From The Motley Fool
By Sarfaraz A. Khan
Research Assistant: G. Yousuf

Oil and gas Exploration and Production (E&P) companies Newfield Exploration (NYSE:NFX) and Hess Corporation are among those American energy firms which, amid pressure from shareholders, have been divesting from less lucrative international oil and gas ventures and investing in more profitable areas closer to their home market. I have already discussed about Hess Corporation’s strategic change and its implications in my previous article.

Here, I will discuss Newfield Exploration and two other E&P plays – the rapidly growing Oasis Petroleum (NYSE: OAS) and Wall Street favorite Anadarko Petroleum (NYSE: APC) – which can beat the market’s expectations in their upcoming earnings release.