Newfield Exploration Offers $425 Million of Senior Subordinated Notes
May 05 2008 - 9:05AM
PR Newswire (US)
HOUSTON, May 5 /PRNewswire-FirstCall/ -- Newfield Exploration
Company (NYSE:NFX) today announced that it intends to commence an
offering of $425 million of Senior Subordinated Notes due 2018. The
Company intends to use the net proceeds from the offering for
general corporate purposes, including to fund a portion of its 2008
capital program, and to repay outstanding borrowings under its
credit agreement. This announcement shall not constitute an offer
to sell or a solicitation of an offer to buy the Senior
Subordinated Notes due 2018. The offering will be made under an
effective shelf registration statement. A copy of the preliminary
prospectus supplement and related base prospectus may be obtained
from the SEC's website at http://www.sec.gov/. Alternatively, the
underwriters will provide copies upon request to: J.P. Morgan
Securities Inc. 270 Park Avenue, 8th Floor New York, NY 10017
Attention: Syndicate Desk Morgan Stanley, Prospectus Department 180
Varick Street, 2nd Floor New York, NY 10014 Ph: 917-606-8474
Newfield Exploration Company is an independent crude oil and
natural gas exploration and production company. The Company relies
on a proven growth strategy of growing reserves through an active
drilling program and select acquisitions. Newfield's domestic areas
of operation include the U.S. onshore Gulf Coast, the Anadarko and
Arkoma Basins of the Mid-Continent, the Rocky Mountains and the
Gulf of Mexico. The Company has international operations in
Malaysia and China. ** The statements set forth in this release
contain certain forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934, including the consummation of the
offering, the availability of capital resources to fund capital
expenditures and the use of proceeds. Although the Company believes
that the expectations reflected in this information are reasonable,
this information is based upon assumptions and actual results may
vary significantly from those anticipated due to many factors. For
information, contact: Investor Relations: Steve Campbell (281)
847-6081 Media Relations: Keith Schmidt (281) 674-2650 Email:
DATASOURCE: Newfield Exploration Company CONTACT: investors, Steve
Campbell, +1-281-847-6081, or media, Keith Schmidt,
+1-281-674-2650, , both of Newfield Exploration Company Web site:
http://www.newfield.com/
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