First-quarter revenue for the Houston-based independent crude oil and natural gas exploration company was $431 million, compared with first-quarter 2005 revenue of $413 million. Newfield reported net income of $149 million compared with $60 million in the first quarter of 2005.
In addition to good earnings, Newfield received recognition for its safety operations. In April, Acting Interior Secretary Lynn Scarlett awarded Newfield the National 2005 Safety Award for Excellence recognizing its operations in the Outer Continental Shelf.
Commenting on the award, David A. Trice, chairman, president and CEO said, "I am very proud of our employees and contractors. The fact that they won this award for 2005, during the worst hurricane season the Gulf has experienced, is a remarkable achievement and testament to our operations personnel."
IW 50 Best Manufacturing Company
