HOUSTON, Sept. 30 /PRNewswire/ -- Newfield Exploration Company (NYSE: NFX) intends to offer $125 million of senior unsecured notes due 2007 through a Rule 144A private placement offering during October 1997.
The offering will be made by means of an offering memorandum to qualified institutional buyers and the securities will have certain registration rights. Net proceeds from the sale of the senior notes will be used to repay outstanding indebtedness under Newfield's revolving credit facility and to fund further exploration and development of the Company's properties, the acquisition of oil and gas properties and other general corporate purposes.
The notes to be offered have not been and will not be registered under the Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the notes.
Newfield explores, develops and acquires oil and gas properties
principally in the Gulf of Mexico.
SOURCE Newfield Exploration Company
CONTACT: James P. Ulm, II of Newfield Exploration Company, 281-847-6000