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.
SOURCE Newfield Exploration Company /CONTACT: Steve Campbell of Newfield Exploration Company, +1-281-847-6081, or firstname.lastname@example.org / /Web site: http://www.newfld.com / (NFX)