25 Feb 2019securities registration● Neutral
NEWFIELD EXPLORATION CO /DE/ amended its automatic shelf registration statement.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
25 Feb 2019listing compliance notice▼ BadMajor
NEWFIELD EXPLORATION CO /DE/ terminated the registration of a class of securities, ending its reporting obligation for them.
20 Feb 2019business combination● NeutralMajor
The Encana merger closed on February 13, 2019: each Newfield share was converted into 2.6719 Encana common shares (cash for fractions), and Newfield is now an indirect wholly-owned Encana subsidiary. Newfield's NYSE trading ended after the close on February 13, it plans to file Form 15 to stop its SEC reporting, its credit agreement was repaid in full and terminated, and all former directors and officers (including CEO Lee Boothby) left, replaced by Encana executives. This completes the pending merger thread and ends the shareholders' position in Newfield stock.
14 Feb 2019listing compliance notice● NeutralMajor
NEWFIELD EXPLORATION CO /DE/'s exchange filed to remove a class of its securities from listing.
12 Feb 2019substantial holder notice● Neutral
Wellington Management Group LLP, Wellington Group Holdings LLP, Wellington Investment Advisors Holdings LLP, Wellington Management Company LLP reported a NEWFIELD EXPLORATION CO /DE/ shareholding of 12,400,594 shares (6.19% of votes) in a periodic institutional filing.
11 Feb 2019substantial holder notice● Neutral
The Vanguard Group reported a NEWFIELD EXPLORATION CO /DE/ shareholding of 21,258,583 shares (10.61% of votes) in a periodic institutional filing.
6 Feb 2019substantial holder notice● Neutral
BlackRock, Inc reported a NEWFIELD EXPLORATION CO /DE/ shareholding of 12,896,139 shares (6.40% of votes) in a periodic institutional filing.
5 Feb 2019business combination● Neutral
Newfield and Encana disclosed that six purported class action lawsuits have been filed by Newfield stockholders over the merger, alleging the proxy statement omitted or misstated material information, and seeking to block the merger plus unspecified damages. The companies say no extra disclosure is required, but added supplemental details, including Newfield's financial forecasts (e.g. 2019 estimated EBITDAX of about $1.75 billion), to avoid delay to the merger. They deny any wrongdoing. The merger vote is still scheduled for February 12, 2019.
8 Jan 2019business combination● NeutralMajor
Newfield and Encana mailed the joint proxy statement/prospectus for the merger, with both companies' special shareholder meetings set for February 12, 2019. Newfield needs approval from holders of at least 66 2/3% of its outstanding shares, and its board unanimously recommends a yes vote. The 2.6719 exchange ratio was worth about $27.36 per Newfield share on October 31, 2018 but about $16.78 on January 7, 2019, because Encana's share price fell. Former Newfield holders are expected to own about 36.5% of Encana after the deal. This continues the pending merger.
10 Dec 2018substantial holder notice● Neutral
Wellington Management Group LLP, Wellington Group Holdings LLP, Wellington Investment Advisors Holdings LLP, Wellington Management Company LLP reported a NEWFIELD EXPLORATION CO /DE/ shareholding of 13,228,224 shares (6.60% of votes) in a periodic institutional filing.
2 Nov 2018business combination● NeutralMajor
Newfield agreed on October 31, 2018 to be acquired by Encana Corporation: each Newfield share converts into 2.6719 Encana common shares (cash for fractions), and Newfield survives as a wholly-owned Encana subsidiary. The deal needs approval from both companies' shareholders, antitrust clearance, an effective Encana registration statement and NYSE/TSX listing of the new shares, and either side can terminate if it is not done by June 30, 2019. A $150 million fee is payable by Newfield and a $300 million fee by Encana in specified circumstances. Restricted stock, restricted stock units and performance share units are cancelled and converted into the merger consideration (cash for some units). Two Newfield directors are to join Encana's board. This is a new thread that would end shareholders' current position if completed, but it is not yet completed.
31 Oct 2018quarterly activities report● Neutral
NEWFIELD EXPLORATION CO /DE/ reported quarterly revenue of $711.0 million and net income of $224.0 million for the period ended 2018-09-30.
31 Oct 2018quarterly activities report● Neutral
NEWFIELD EXPLORATION CO /DE/ reported quarterly revenue of $711.0 million and net income of $224.0 million for the period ended 2018-09-30.
21 Aug 2018securities registration● Neutral
NEWFIELD EXPLORATION CO /DE/ filed an automatic shelf registration, effective immediately as a well-known seasoned issuer.
1 Aug 2018quarterly activities report● Neutral
NEWFIELD EXPLORATION CO /DE/ reported a quarterly net income of $119.0 million for the period ended 2018-06-30.
31 July 2018quarterly activities report● Neutral
NEWFIELD EXPLORATION CO /DE/ reported a quarterly net income of $119.0 million for the period ended 2018-06-30.
2 May 2018quarterly activities report● Neutral
NEWFIELD EXPLORATION CO /DE/ reported a quarterly net income of $86.0 million for the period ended 2018-03-31.
1 May 2018quarterly activities report● Neutral
NEWFIELD EXPLORATION CO /DE/ reported a quarterly net income of $86.0 million for the period ended 2018-03-31.
26 Mar 2018debt financing▲ GoodMajor
Newfield refinanced its revolving credit facility with an Amended and Restated Credit Agreement (JPMorgan Chase as administrative agent). Commitments rose from $1.8 billion to $2.0 billion, maturity was extended from June 25, 2020 to May 1, 2023, and commitments can be increased up to $2.75 billion subject to conditions. This replaces the earlier facility in the company's debt history.
21 Feb 2018quarterly activities report● Neutral
NEWFIELD EXPLORATION CO /DE/ reported a quarterly net income of $95.0 million for the period ended 2017-12-31.
16 Feb 2018director interest notice● Neutral
NEWFIELD EXPLORATION CO /DE/ Sr. Vice President-Operations John H Jasek acquired 62,159 shares and disposed of 8,027 in a set of related equity transactions.
16 Feb 2018director interest notice● Neutral
NEWFIELD EXPLORATION CO /DE/ Regional Vice President Matthew R Vezza acquired 31,216 shares and disposed of 8,520 in a set of related equity transactions.
16 Feb 2018director interest notice● Neutral
NEWFIELD EXPLORATION CO /DE/ General Counsel and Secretary Timothy D. Yang received 7,781 shares and a 23,342-share option grant as part of the equity award.
16 Feb 2018director interest notice● Neutral
NEWFIELD EXPLORATION CO /DE/ President and CEO Lee K Boothby acquired 210,812 shares and disposed of 34,094 in a set of related equity transactions.
16 Feb 2018director interest notice● Neutral
NEWFIELD EXPLORATION CO /DE/ Chief Accounting Officer George W Fairchild Jr. acquired 19,134 shares and disposed of 3,763 in a set of related equity transactions.
16 Feb 2018director interest notice● Neutral
NEWFIELD EXPLORATION CO /DE/ Regional Vice President John Duncan Ford received 5,558 shares and a 16,673-share option grant as part of the equity award.
16 Feb 2018director interest notice● Neutral
NEWFIELD EXPLORATION CO /DE/ EVP & Chief Financial Officer Lawrence S Massaro acquired 101,125 shares and disposed of 13,378 in a set of related equity transactions.
16 Feb 2018director interest notice● Neutral
NEWFIELD EXPLORATION CO /DE/ Sr VP - Development George T Dunn acquired 39,022 shares and disposed of 9,627 in a set of related equity transactions.
16 Feb 2018director interest notice● Neutral
NEWFIELD EXPLORATION CO /DE/ EVP and COO Gary D Packer acquired 103,522 shares and disposed of 20,059 in a set of related equity transactions.
16 Feb 2018director interest notice● Neutral
NEWFIELD EXPLORATION CO /DE/ Vice President-Investor Rel. Stephen C Campbell acquired 23,901 shares and disposed of 5,774 in a set of related equity transactions.