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Newfield Exploration Announces Upsizing And Pricing Of $700 Million Of 5 3/8% Senior Notes Due 2026

THE WOODLANDS, Texas, March 5, 2015 /PRNewswire/ -- Newfield Exploration Company (NYSE: NFX) today announced that it has priced its public offering of $700 million of 5⅜% Senior Notes due 2026, an increase over the previously announced offering of $500 million aggregate principal amount. The notes were issued at par. The Company expects to close the offering on March 10, 2015 and intends to use the net proceeds from the offering, along with cash on hand or borrowings under its revolving credit facility, to redeem its outstanding 6⅞% Senior Subordinated Notes due 2020.

J.P. Morgan Securities LLC, Wells Fargo Securities, LLC, Mitsubishi UFJ Securities (USA), Inc., Scotia Capital (USA) Inc., U.S. Bancorp Investments, Inc. and Goldman, Sachs & Co. are acting as joint book-running managers for the offering. The offering is being made under an automatic shelf registration statement on Form S-3 (Registration No. 333-198120) filed by Newfield with the Securities and Exchange Commission ("SEC") and only by means of a prospectus supplement and accompanying prospectus. Prospective investors should read the prospectus supplement and accompanying prospectus related to the offering and other documents Newfield has filed with the SEC for more complete information about Newfield and this offering. When available, copies of the prospectus supplement and accompanying prospectus related to the offering may be obtained for free by visiting EDGAR on the SEC website, www.sec.gov, or by contacting:

J.P. Morgan Securities LLC
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
1-866-803-9204

Newfield Exploration Company is an independent energy company engaged in exploration, development and production of crude oil, natural gas and natural gas liquids. We are focused on North American resource plays and our principal areas of operation include the Mid-Continent, the Rocky Mountains and onshore Texas. In addition, the Company has oil developments offshore China.

This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, Newfield's Senior Notes due 2026 or any other securities, nor shall there be any sale of securities mentioned in this press release in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any jurisdiction.

**This release contains forward-looking information. All information other than historical facts included in this release is forward-looking information. Although Newfield believes that these expectations are reasonable, this information is based upon assumptions and anticipated results that are subject to numerous uncertainties and risks. Actual results may vary significantly from those anticipated due to many factors. Factors that could impact forward-looking statements are described in "Risk Factors" in Newfield's 2014 Annual Report on Form 10-K and other subsequent public filings with the Securities and Exchange Commission, which can be found at www.sec.gov. Unpredictable or unknown factors, not discussed in this press release, could also have material adverse effects on forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof. Unless legally required, Newfield undertakes no obligation to publicly update or revise any forward-looking statements.

For additional information, please contact Newfield's Investor Relations department.
Phone: 281-210-5321
Email: info@newfield.com

 

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/newfield-exploration-announces-upsizing-and-pricing-of-700-million-of-5-38-senior-notes-due-2026-300046380.html

SOURCE Newfield Exploration Company

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