HOUSTON, Sep 13, 2004 /PRNewswire-FirstCall via COMTEX/ -- Newfield Exploration Company (NYSE: NFX) today announced it had shut-in approximately 75 million cubic feet equivalent per day (MMcfe/d) of net Company-operated production in the Gulf of Mexico in response to Hurricane Ivan. This represents nearly 25% of Newfield's current net offshore production, which is approximately 340 MMcfe/d.
With Hurricane Ivan entering the Gulf of Mexico, Newfield began evacuating non-essential personnel on Sunday, September 12. By the end of today, 53 non- essential personnel and 31 essential personnel are expected to have been evacuated. Drilling operations have been suspended on two operated jack-up rigs operating in the eastern Gulf.
Newfield will make determinations on additional shut-ins as Ivan's progress is monitored over the next 24 hours. Newfield operates more than 160 platforms in the Gulf of Mexico and controls about 250 lease blocks.
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, the Uinta Basin of the Rocky Mountains, offshore Malaysia and other select international ventures.
Newfield Exploration Company 363 N. Sam Houston Parkway East, Ste. 2020 Houston, TX 77060 http://www.newfld.com For information, contact: Steve Campbell (281) 847-6081 email@example.com
SOURCE Newfield Exploration Company
Steve Campbell of Newfield Exploration Company, +1-281-847-6081, or firstname.lastname@example.org