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Newfield Says Offshore Blowout Capped and Stable

HOUSTON, Sept. 20 /PRNewswire/ -- Newfield Exploration Company (NYSE: NFX) announced today that the A-2 gas well blowout on the Ship Shoal 354 (OCS-G 15312) production platform has been capped and stabilized. The blowout occurred on Thursday, September 9 and self ignited on September 12. Newfield operates the platform, which is located about 140 miles south of New Orleans, LA in 463 feet of water. There were no injuries associated with the blowout or the well capping operations and pollution from the event has been minimal.

Newfield coordinated its efforts with the Minerals Management Service and Coast Guard Marine Safety Office (MSO) Morgan City and other regulatory authorities. Boots and Coots capped the blowout at 4 p.m. on Sunday, September 19. As a parallel plan of action to control the A-2 well, a relief well was spudded last week. The relief well efforts have been suspended and the rig is on standby.

A recovery plan is currently underway to bring condensate and gas production from the Ship Shoal 354 platform back on line. At the time of the incident, the platform was producing 6 million cubic feet per day of gas and 1,400 barrels of condensate per day (gross). Newfield owns a 40 percent net revenue interest in the platform. The Company expects that production from the platform will not resume in less than four to six weeks. Lost production from the platform will not impact the Company's production targets for 1999. An initial inspection of the platform revealed no major structural damage. Damage to Newfield's assets is covered under insurance arrangements. Newfield's immediate priorities are to abandon the current A-2 well completion, replace it and return to service the Williams Field Services Company pipeline that crosses the Ship Shoal 354 platform.

Newfield explores, develops and acquires oil and gas properties in the Gulf of Mexico and has operating activities onshore Gulf Coast and offshore Australia and China.

Newfield Exploration Company For more information contact:

363 N. Sam Houston Pkwy. E., Ste 2020 Steve Campbell

Houston, Texas 77060 281-847-6081
SOURCE Newfield Exploration Company
Web site: http: //www.newfld.com
CONTACT: Steve Campbell of Newfield Exploration Company, 281-847-6081

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