Newfield Exploration Co.

Transaction Type
Sellers
Marketers
Basin
Maverick
Post Date
Close Date
Estimated Price
MM
Description

Newfield Exploration Co. has retained The Oil & Gas Asset Clearinghouse to sell certain operated and nonoperated South Texas assets in a negotiated transaction.

The package includes operated working interests from 50% to 100% (36% to 75% net revenue interest) and nonoperated working interests of 6.25% (4.7% net revenue interest) in assets in Bee, Live Oak, Webb, Duval, Zapata, Jim Hogg and Kenedy counties. The assets include 36 producing wells in eight fields (seven operated by Newfield).

Production is 2.7 million cubic feet of gas and 26 barrels of oil per day. Upside includes 12 proved behind-pipe opportunities and seven proven undeveloped drilling opportunities.

The bid due date is Aug. 16. The effective date is July 1. Contact Pat Dapra, 832-601-7655, pdapra@ogclearinghouse.com.