Newfield Exploration (NFX) Announces Two Deepwater GOM Discoveries
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Newfield Exploration Company (NYSE: NFX) announced two discoveries in the deepwater Gulf of Mexico - Pyrenees and Winter. Since the beginning of 2008, Newfield has drilled seven successes out of eight exploration attempts in the deepwater Gulf and has seven deepwater developments underway, providing significant future production growth.
The Pyrenees discovery, located in approximately 2,100' of water in Garden Banks Block 293, encountered approximately 125' of net hydrocarbon pay in three separate intervals. The well was temporarily abandoned and the partners are working on field development plans.
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