Production
The Company exited 2007 producing 165 MMcfe/d. The Company expects to exit 2008 at approximately 250 MMcfe/d, a 50% increase over year-end 2007 levels.
In 2006, Newfield produced 242.6 Bcfe. Production in 2005 totaled 241.6 Bcfe. Domestic production in 2006 and 2005 reflects the deferral of approximately 16 Bcfe and 22 Bcfe, respectively, related to the 2005 hurricanes and associated on-going repairs. Newfield's production in the fourth quarter of 2006 was 67.9 Bcfe.
Reserves
Proved reserves increased 10% to 2.5 Tcfe at Year-End 2007 - Newfield added 660 Bcfe through the drillbit and 221 Bcfe through acquisitions. Reserve Life Index increased to 13 years.
More than 70% of total year-end 2007 reserves in "Resource Plays" - The Mid-Continent and Rocky Mountain divisions now account for more than 70% of proved reserves. Significant increase reflects success of growing Woodford Shale Play, 2007 Rocky Mountain acquisition and ongoing development of giant Monument Butte oil field in northeast Utah.
In 2006, proved reserves increased 14% to 2.3 trillion cubic feet equivalent. Reserves by focus area: 35% in the Mid-Continent, 20% Onshore Gulf Coast, 20% Rocky Mountains, 15% Gulf of Mexico and 10% International.