HOUSTON, Dec. 2 /PRNewswire-FirstCall/ -- Newfield Exploration Company
(NYSE: NFX) today announced that it had entered into a new $1 billion
revolving credit facility to replace its previous reserve-based $600 million
facility. The new facility has a term of five years. JPMorgan Chase Bank,
N.A. is the Administrative Agent for the 19 banks in the syndicate, which also
includes Wachovia Bank, National Association, Bank of America, N.A., The Royal
Bank of Scotland, plc, Calyon New York Branch and Harris Nesbitt Financing,
Inc. J.P. Morgan Securities Inc. served as sole book runner and lead arranger
for the syndication of the facility.
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, the Uinta
Basin of the Rocky Mountains and offshore Malaysia. The Company has
international development projects underway 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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