NEWFIELD EXPLORATION COMPANY (NYSE:NFX) Files An 8-K Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
Item 5.03. Amendments to Articles of Incorporation or
Bylaws; Change in Fiscal Year.
(a) On November 11, 2016, the Board of Directors (the Board) of
Newfield Exploration Company (the Company) approved an amendment
(the First Amendment) to the bylaws of the Company (as amended,
the Bylaws), effective November 11, 2016, to implement proxy
access and to make certain changes to the advance notice
provisions contained in Article II, Section 2.13. Article II,
Section 2.13(e) has been added to the Bylaws to permit a
stockholder, or a group of up to 20 stockholders, owning 3% or
more of the Companys outstanding common stock continuously for at
least three years to nominate and include in the Companys proxy
materials directors constituting up to the greater of (i) 20% of
the Board or (ii) two directors, provided that the stockholder(s)
and the nominee(s) satisfy the requirements specified in the
Bylaws.
This summary is qualified in its entirety by reference to the
First Amendment, effective November11, 2016, which is filed as
Exhibit3.1 attached hereto and incorporated by reference herein.
Item 9.01 Financial Statements and
Exhibits
(d) Exhibits
|
3.1 |
First Amendment to the Amended and Restated Bylaws, |
About NEWFIELD EXPLORATION COMPANY (NYSE:NFX)
Newfield Exploration Company is an independent energy company engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids (NGLs). The Company’s operations are focused primarily on large scale, onshore liquids-rich resource plays in the United States. Its segments are the United States and China. Its principal areas of operation are the Anadarko and Arkoma Basins of Oklahoma, the Williston Basin of North Dakota, the Uinta Basin of Utah and the Maverick, and Gulf Coast basins of Texas. In addition, it has oil developments offshore China. Its proved reserves of over 510 million barrels of oil equivalents (MMBOE) consist of over 310 MMBOE proved developed producing, 20 MMBOE proved developed non-producing and 180 MMBOE proved undeveloped reserves. Its proved liquids reserves are over 290 million barrels. Over 71% of its proved liquid reserves are crude oil or condensate. Its proved natural gas reserves are over 1,305 billion cubic feet (Bcf). NEWFIELD EXPLORATION COMPANY (NYSE:NFX) Recent Trading Information
NEWFIELD EXPLORATION COMPANY (NYSE:NFX) closed its last trading session down -0.37 at 40.03 with 1,680,616 shares trading hands.