NFX – NFX is trading at a steep discount to Uniform Asset levels, and management is confident about their initiatives and three-year plan

• • • Newfield Exploration Company (NFX:USA)currently trades near historical lows relative to UAFRS-based (Uniform) Assets, with a 0.4x Uniform P/B. At these levels, markets are pricing in expectations for only minimal fundamental improvements, but management is confident about their initiatives and three-year plan
    • Specifically, management is confident in their spacing configurations building long-term value for their owners and development, and in their decision to drill on opposite sides of the lease line on their HBP properties to keep wells close. Additionally, they are confident that the types of wells they are going to be drilling going forward will be similar to the types of wells that went into the 2017 brown curve, and in their upsizing program that increased the intensity of their wells. Furthermore, they are confident in their three-year plan