One-Page Deal Sheet
Newfield Sells U.K. North Sea Assets To British Gas
Not Disclosed Newfield Exploration Co.
Announced Date
October 05,2007
Close Date
October 05,2007
Enterprise Value (EV)($MM)
486
Location
Country
United Kingdom
Transaction Details: Subscribe to see
Newfield Exploration Company (NYSE: NFX) today announced the closing on its previously announced sale of its interests in the U.K. North Sea to Centrica plc, the owner of British Gas, for $486.4 million.
The sale included an 85% interest in the Grove Field, an 80% interest in the undeveloped Seven Seas discovery and an interest in approximately 200,000 net acres located in the Southern Gas Basin.
Newfield's production guidance (issued July 25) accounted for this sale and other anticipated divestitures and remains 240 - 253 Bcfe in 2007 and 215 - 230 Bcfe in 2008.
Jefferies Randall & Dewey…
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