Company Provides Update on Production
HOUSTON, Oct. 2 /PRNewswire-FirstCall/ -- Newfield Exploration Company (NYSE: NFX) today announced it had SHUT IN its Gulf of Mexico production in response to Hurricane Lili. This is the second time in as many weeks that Gulf of Mexico production has been shut-in due to weather.
With Hurricane Lili entering the Gulf of Mexico, Newfield began evacuating non-essential personnel on Monday, September 30. Production shut-ins began on Tuesday, October 1 and are now complete with approximately 430 MMcf/d of gas (gross) and 25,000 BOPD (gross) offline. Newfield's net production in the Gulf of Mexico is nearly 265 MMcf/d of gas and 13,500 BOPD.
From September 24-29, 2002, Newfield shut in approximately 1.5 billion cubic feet equivalent (Bcfe) of net production due to Tropical Storm Isidore. Newfield expects to meet its previously disclosed estimate of third quarter 2002 production of 42.6 -- 47.1 Bcfe. To review Newfield's previously provided guidance on the third quarter of 2002, please see the Company's @NFX publication dated July 22, 2002 found on the Company's website at www.newfld.com or the Company's Current Report on Form 8-K filed with the SEC on July 24, 2002.
Newfield operates about 140 platforms in the Gulf of Mexico and controls 190 lease blocks.
Newfield Exploration is an independent crude oil and natural gas exploration and production company. The Company has a solid asset base of producing properties and exploration and development drilling opportunities in the Gulf of Mexico, along the U.S. Onshore Gulf Coast, in the Anadarko and Permian Basins, offshore Australia, and in China's Bohai Bay. Newfield balances its drilling program with acquisitions in select areas in the U.S. and overseas.
Newfield Exploration Company For information, contact:
363 N. Sam Houston Parkway East, Ste. 2020 Steve Campbell
Houston, TX 77060 (281) 847-6081
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SOURCE Newfield Exploration Company
/CONTACT: Steve Campbell of Newfield Exploration Company, +1-281-847-6081, or email@example.com /
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CO: Newfield Exploration Company
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5593 10/02/2002 10:01 EDT http://www.prnewswire.com