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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): OCTOBER 15, 2002
NEWFIELD EXPLORATION COMPANY
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
DELAWARE 1-12534 72-1133047
(STATE OR OTHER JURISDICTION (COMMISSION FILE (I.R.S. EMPLOYER
OF INCORPORATION OR ORGANIZATION) NUMBER) IDENTIFICATION NUMBER)
363 N. SAM HOUSTON PARKWAY E.
SUITE 2020
HOUSTON, TEXAS 77060
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES, INCLUDING ZIP CODE)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (281) 847-6000
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ITEM 5. OTHER EVENTS
See the following press release by Newfield Exploration Company announcing the
update of shut-in Gulf of Mexico production.
NEWFIELD PROVIDES PRODUCTION UPDATE FOLLOWING HURRICANE LILI, ISIDORE
Newfield Exploration Company (NYSE:NFX) today provided a production
update following recent storms and resulting production shut-ins in the Gulf of
Mexico. Despite the shut-ins, the Company expects to produce approximately 180
billion cubic feet equivalent (Bcfe) in 2002.
The Company shut-in approximately 2.5 Bcfe of production in response to
Hurricane Lili. Newfield's Gulf of Mexico production was shut in beginning
October 1 and today nearly all of Newfield's production is back on line. With
the exception of Eugene Island 324, Newfield's production platforms sustained
only minor damage. The Eugene Island 324 facility was severely damaged and will
most likely be removed. Newfield's net production from this facility was only
0.3 million cubic feet per day (MMcf/d) and 200 barrels of oil per day. The
damage to platforms and the removal of the Eugene Island 324 facility is covered
by Newfield's insurance policies.
As a result of Tropical Storm Isidore (September 24-29), Newfield had
previously announced that approximately 1.5 Bcfe of production was shut in. The
Company's production facilities sustained no significant damage during this
storm.
Newfield operates about 140 production platforms in the Gulf of Mexico
and controls 190 lease blocks.
Newfield Exploration is an independent crude oil and natural gas
exploration and production company. The Company has a solid asset base of
producing properties and exploration and development drilling opportunities in
the Gulf of Mexico, along the U.S. Onshore Gulf Coast, in the Anadarko and
Permian Basins, offshore Australia and in China's Bohai Bay. Newfield balances
its drilling program with acquisitions in select areas in the U.S. and overseas.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this Form 8-K to be signed on its behalf by the
undersigned thereunto duly authorized.
NEWFIELD EXPLORATION COMPANY
Date: October 16, 2002 By: /s/ TERRY W. RATHERT
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Terry W. Rathert
Vice President and Chief Financial Officer
(Authorized Officer and Principal
Financial Officer)