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Newfield Announces Results of Drilling in Bohai Bay, China

HOUSTON, Oct. 10 /PRNewswire/ -- Newfield Exploration Company (NYSE: NFX) announced today the results of the drilling of the Block 05/36 well in Bohai Bay, offshore of the People's Republic of China. The well was drilled by the operator, Kerr-McGee China Petroleum Ltd. ("Kerr-McGee"), to a total depth of approximately 14,000 feet. The well was tested in two lower Tertiary sands. Although hydrocarbons were indicated in both sands, drill stem tests failed to produce oil or gas. Newfield, Kerr-McGee and Pendaries Petroleum Ltd. ("Pendaries") have agreed to plug and abandon the well.

The drilling of this first exploratory well in Block 05/36 satisfies the drilling obligations of Kerr-McGee, Newfield and Pendaries pursuant to arrangements with the China National Offshore Oil Corporation through 1998. Newfield anticipates additional exploratory drilling on the property in 1998.

Newfield explores, develops and acquires oil and gas properties primarily in the Gulf of Mexico.
SOURCE Newfield Exploration Company
CONTACT: James P. Ulm, II, of Newfield Exploration Company, 281-847-6000

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