Newfield Exploration Co., Houston, (NYSE: NFX) reports the Blackbeard West #1 exploration well in the South Timbalier area offshore Louisiana was drilled to 30,067 feet and encountered a thin gas bearing sand below 30,000 feet. Newfield invested $25 million in the drilling of the well, which failed to reach its primary targets because of higher than expected pressure. The operator is preparing to temporarily abandon the well. Newfield chairman, president and chief executive David A Trice says, "Although disappointed that we were unable to test our primary objectives, we have learned a great deal about drilling ultra-deep wells. This has been a challenging well to test a true frontier play, but Newfield is sufficiently encouraged to continue investing in this play. We intend to use the information gathered from this well to investigate if a well can be designed which will allow us to safely test this prospect in the future." Blackbeard West #1 is operated by ExxonMobil Corp., Irving, Texas, (NYSE: XOM) which has a 25% interest in the well. Newfield has a 23% interest, BP Exploration and Production Inc., London, (NYSE: BP) has 20%, Petrobras America Inc., Rio de Janeiro, Brazil, (NYSE: PBR) has 20%, Dominion Exploration & Production Inc. Dallas, (NYSE: DOM) has 7% and BHP Billiton Petroleum (Deepwater) Inc., Melbourne, Australia, (NYSE: BHP) has 5%.