Newfield Exploration (NYSE:NFX) Keeps "Overweight" from Barclays (NYSE:BCS) on Liquid Gas

Barclays (NYSE:BCS) reiterated its "Overweight" on Newfield Exploration (NYSE:NFX), citing a move toward liquid natural gas.

"Capital is shifting away from dry natural gas toward liquids-rich plays. Investors are eager to hear results (early Q1 announcement likely) in the Eagle Ford shale and the Southern Alberta Basin where Newfield has recently begun drilling operations...We are revising EPS to reflect lower gas prices. Lowering 4Q'10 benchmark gas-price forecast to $3.75/MMBtu and '11E to $4.00/MMBtu. NFX has nearly 70% of expected 2011 gas production hedged at $6.15/MMBtu," Barclays said.

Earnings estimate for full year 2011 was increased on Newfield from from $4.40 to $4.60, but lowered for 2012 from $4.45 to $4.40.

Newfield closed Thursday at $58.91, gaining $0.06, or 0.10 percent. Barclays has a price target of $60 on them.

ConocoPhillips (NYSE:COP), Marathon (NYSE:MRO) Exports Given OK to Continue

The Alaskan Energy Department has given ConocoPhillips (NYSE:COP) and Marathon Oil (NYSE:MRO) approval to go ahead and continue to export liquefied natural gas from their plant located at Nikiski.

It was an issue in the first place because some were worried over the possibility the exports could result in shortages in the Southcentral region of Alaska.

Both companies asked for their export license, which was going to expire in March, to be extended for another two years.

The two companies export the liquefied natural gas from the plant to Asian markets.

Nikiski processes natural gas from Cook Inlet into liquid.