One-Page Deal Sheet
Newfield Exploration to Acquire South Texas Assets
Newfield Exploration Co. Not Disclosed
Announced Date
February 07,2000
Effective Date
January 01,2000
Close Date
February 28,2000
Transaction Type
Property
Enterprise Value (EV)($MM)
142
Asset/Basin:
{"Gulf Coast"}
Transaction Details: Subscribe to see
Newfield Exploration Company today announced signing a purchase and sale agreement to acquire interests in producing gas assets in south Texas from an undisclosed seller for $142 million. The producing gas fields are located in Hidalgo, Brooks and Kenedy Counties. The effective date of the transaction is January 1, 2000 and the deal is expected to close in late February.
About 90 percent of the acquired reserves are natural gas. The three fields are currently producing about 75 million cubic feet equivalent per day (MMcfe/d) gross, or about 35 MMcfe/d net to Newfield. The Company will operate…
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