Our focus at Newfield is clear. In 2011 and 2012, we are and will be focused on the oil assets in our portfolio. In fact, we expect an approximate 50% increase in our domestic oil production during 2011.
Over the years, we have developed a diversified portfolio of assets that provides us with "optionality" in focusing on the development of oil, natural gas and/or rich natural gas condensates.
Our strategy balances exploration, acquisitions and development. We are focused on select geographic areas where we have competitive advantages and control of operations.
We're very active in the domestic U.S. — from the Gulf of Mexico and onshore Texas...to oil plays in the Rocky Mountains...and shale plays in the Mid-Continent. In addition, we have offshore oil operations in Malaysia and China.
We are focused on profitably growing production and reserves to create value for our stockholders. Although we know the importance of near-term growth, we also are focused on our long-term future. We have several resource play assessments underway.
We strongly promote safety and environmental stewardship, as these are core Company values.
We also continue to focus on building a loyal and talented workforce and are ensuring we have the right people in place to keep pace with our future growth. "Team Newfield" is comprised of the best and the brightest talent in the industry. Newfield is a place where the individual is a vital part of the team, ideas are heard, debate is encouraged and employees are rewarded for their achievements.
