Successful growth factors on oil and gas operations of Newfield Exploration Company in USA.

This paper is to try to clarify the growth factors of Newfield Exploration Co.(referred to NFC'). NFC is an independent oil and gas production company, which mainlyoperates in the Gulf of Mexico of the United States. NFC was set up in late 1988 with only 9million dollars of equity capital. In the past 10 years from the beginning, NFC had the market capitalization of 1.48 billion dollars as of March 2000. Why has NFC achieved a rapid growth? Wecan see the growth factors such as a good balance between acquisitions and exploration, anincentive policy to talented people, an access to capital market after initial public offering and so on.This paper also refers to American-style business culture prepared to take risks. There may bemanagement's coherence to success and motivated engineers' insights as a professional behindNFC's surprisingly robust growth.