HOUSTON, Aug. 30 /PRNewswire-FirstCall/ -- Newfield Exploration Company
(NYSE: NFX) today announced initial findings of an aerial survey of its
operations in the eastern Gulf of Mexico. The Company's "A" production
platform at Main Pass 138 appears to have been lost in the storm. All other
Newfield operated structures flown over appear to be intact. Prior to the
shut-in for Hurricane Katrina, the facility was producing 1,500 barrels of oil
per day (gross). Newfield operates the facility with a 92% working interest.
As of this morning, boats and helicopters are mobilizing to better access
damages, identify any environmental impacts and begin the repair process.
In preparation for Hurricane Katrina, Newfield began shutting in
production on August 27, and since that time approximately 1.1 Bcfe has been
deferred. More than 250 employees and contractors were safely evacuated from
the Gulf. Today, operations are being resumed from fields unaffected by the
storm and where pipelines will permit the resumption of production. Newfield
will have a more detailed assessment of storm related damages and total
volumes deferred as information is available.
Newfield Exploration Company is an independent crude oil and natural gas
exploration and production company. The Company relies on a proven growth
strategy that includes balancing acquisitions with drill bit opportunities.
Newfield's areas of operation include the Gulf of Mexico, the U.S. onshore
Gulf Coast, the Anadarko and Arkoma Basins of the Mid-Continent and the Uinta
Basin of the Rocky Mountains. The Company has development projects underway
offshore Malaysia, in the U.K. North Sea and in Bohai Bay, China.
Newfield Exploration Company For information, contact:
363 N. Sam Houston Parkway East, Ste. 2020 Steve Campbell
Houston, TX 77060 (281) 847-6081
http://www.newfld.com info@newfld.com
SOURCE Newfield Exploration Company
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Related links:
http://www.newfld.com
CONTACT:
Steve Campbell of Newfield Exploration
Company, +1-281-847-6081, or info@newfld.com
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