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8-K - FORM 8-K - NEWFIELD EXPLORATION CO /DE/ | h69304e8vk.htm |
EX-12.1 - EX-12.1 - NEWFIELD EXPLORATION CO /DE/ | h69304exv12w1.htm |
EX-99.2 - EX-99.2 - NEWFIELD EXPLORATION CO /DE/ | h69304exv99w2.htm |
Exhibit 99.1
Newfield Exploration Announces Offering of $650 Million of
Senior Subordinated Notes
Senior Subordinated Notes
FOR IMMEDIATE RELEASE
Houston January 20, 2010 Newfield Exploration Company (NYSE: NFX) today announced
that it has commenced an offering of $650 million of Senior Subordinated Notes due 2020. The
Company intends to use the net proceeds from the offering to fund its pending tender offer and
consent solicitation for its existing 7 5/8% Senior Notes due 2011, to fund its previously
announced pending acquisition of certain of TXCO Resources Inc.s assets in the Maverick Basin, to
repay outstanding borrowings under its credit agreement and for general corporate purposes,
including its 2010 capital program.
This announcement shall not constitute an offer to sell or a solicitation of an offer to buy
the Senior Subordinated Notes due 2020. 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 SECs website at 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
prospectus@jpmchase.com
New York, NY 10017
Attention: Syndicate Desk
prospectus@jpmchase.com
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. Newfields domestic areas of operation include the
Mid-Continent, the Rocky Mountains, onshore Texas 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, tender offer and asset acquisition 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: info@newfield.com
Investor Relations: Steve Campbell (281) 847-6081
Media Relations: Keith Schmidt (281) 674-2650
Email: info@newfield.com
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