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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): MARCH 11, 2002
NEWFIELD EXPLORATION COMPANY
(Exact name of registrant as specified in its charter)
DELAWARE 1-12534 72-1133047
(State or other jurisdiction (Commission file (I.R.S. employer
of incorporation or organization) number) identification number)
363 N. SAM HOUSTON PARKWAY E.
SUITE 2020
HOUSTON, TEXAS 77060
(Address of principal executive offices, including zip code)
Registrant's telephone number, including area code: (281) 847-6000
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Item 5. Other Events
See the following press release by Newfield Exploration Company announcing Gulf
of Mexico discoveries.
Newfield Exploration Announces Gulf of Mexico Discoveries
NEWFIELD EXPLORATION COMPANY (NYSE:NFX) today provided an update on its
Gulf of Mexico drilling program, including significant discoveries in the deep
shelf play.
WEST DELTA 21 #6: The WD 21 #6 well was drilled to a total depth of
16,000' and encountered a gross hydrocarbon interval of 250' with net pay of
165'. Completion operations are underway with first production expected in the
fourth quarter of 2002. Newfield is operator with a 62% working interest.
EUGENE ISLAND 163 #1: The EI 163 #1 well was drilled to a total depth
of 15,521' and encountered 35' of net gas pay. The discovery will be tied back
to a Newfield-operated platform at Eugene Island 172. First production is
expected in the fourth quarter of 2002. Newfield is the operator with an 82.5%
working interest.
EUGENE ISLAND 199 A-16 ST: The EI 199 A-16 ST was drilled to a total
depth of 14,484' and encountered 40' of net gas pay. The well was drilled from
Newfield's EI 198 "A" production platform. The new well was completed and is now
on-line. Newfield operates the well with a 100% working interest.
HIGH ISLAND 355 #1, #2: Two successful wells were recently drilled at
HI 355. The #1 well was drilled to a total depth of 9,500' and encountered 135'
of net gas pay. The #2 well was drilled to a total depth of 10,000' and found
150' of net gas pay. A production facility will be set later this year with
first production expected in the fourth quarter of 2002. Newfield operates the
development with an 82.5% working interest.
Newfield is currently participating in a well at West Cameron 201. The
well is currently drilling with a planned total depth of 19,500'. Newfield owns
a 33.3% working interest in this outside-operated prospect.
The Company recently drilled two dry holes: Eugene Island 38 #15,
drilled to a total depth of 15,354', and West Delta 43 #2, drilled to a total
depth of 11,000'.
**Certain of the statements set forth in this release regarding planned
operations and the timing of production volumes are forward looking and based
upon assumptions and anticipated results that are subject to numerous
uncertainties. Actual results may vary significantly from those anticipated due
to many factors, including drilling results, oil and gas prices, industry
conditions, the prices of goods and services, the availability of drilling rigs
and other support services and the availability of capital resources.
Newfield Exploration Company For information, contact:
363 N. Sam Houston Parkway East, Ste. 2020 Steve Campbell
Houston, TX 77060 (281) 847-6081
www.newfld.com info@newfld.com
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this Form 8-K to be signed on its behalf by the
undersigned thereunto duly authorized.
NEWFIELD EXPLORATION COMPANY
Date: March 11, 2002 By: /s/ TERRY W. RATHERT
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Terry W. Rathert
Vice President and Chief Financial Officer
(Authorized Officer and Principal
Financial Officer)