UNITED
STATES
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): December 13,
2005
______________
NEWFIELD
EXPLORATION COMPANY
(Exact
name of registrant as specified in its charter)
______________
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Delaware
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1-12534
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72-1133047
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(State
or other jurisdiction
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(Commission
File Number)
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(I.R.S.
Employer
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of
incorporation)
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Identification
No.)
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363
N. Sam Houston Parkway E., Suite 2020
Houston,
Texas 77060
(Address
of principal executive offices)
Registrant’s
telephone number, including area code: (281) 847-6000
Not
Applicable
(Former
name or former address, if changed since last report)
Check
the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
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o
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Written
communications pursuant to Rule 425 under the Securities Act (17
CFR
230.425)
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o
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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o
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR
240.14d-2(b))
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o
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR
240.13e-4(c))
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Item
7.01 Regulation
FD Disclosure
On
December 13, 2005, Newfield issued a press release providing a progress report
on the resumption of its production in the Gulf of Mexico following 2005 storms
and hurricanes. A copy of the press release is furnished herewith as Exhibit
99.1.
Item
9.01 Financial
Statements and Exhibits
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(c)
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Exhibits
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99.1
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Press
release issued by Newfield Exploration Company on December 13,
2005.
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2
SIGNATURES
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 hereunto
duly authorized.
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NEWFIELD
EXPLORATION COMPANY
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Date:
December 14, 2005
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By:
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/s/
TERRY W. RATHERT
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Terry
W. Rathert
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Senior
Vice President and Chief Financial
Officer
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3
Exhibit
Index
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Exhibit
No.
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Description
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99.1
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Press
release issued by Newfield Exploration Company on December 13,
2005.
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Exhibit
99.1
Newfield
Reports on Resumption of Gulf of Mexico Production
Following
’05 Storms
FOR
IMMEDIATE RELEASE
Houston
- (December 13, 2005) - Newfield Exploration Company
(NYSE:NFX)
today
provided a progress report on the resumption of its production in the Gulf
of
Mexico following 2005 storms and hurricanes. Newfield estimates that the storms
will result in the deferral of approximately 22 billion cubic feet equivalent
(Bcfe) of anticipated 2005 production. As a result, Newfield now expects that
full-year 2005 production will total approximately 242 Bcfe.
David
A.
Trice, Newfield Chairman, President and CEO, commented: “Recovery from Hurricane
Rita has been much slower than we originally projected with most of the delays
relating to pipeline and onshore processing plant damage. In addition, the
storm
substantially delayed our drilling program which would have resulted in
additional production during this period from new wells and recompletions.
We
are currently producing 200 MMcfe/d from the Gulf of Mexico. We estimate that
Gulf production will reach 250-270 MMcfe/d by the end of the first quarter
of
2006 and 270-300 MMcfe/d by mid-year 2006. These estimates depend upon timely
repairs to third party facilities.”
Newfield
Exploration Company is an independent crude oil and natural gas exploration
and
production company. The Company relies on a proven growth strategy that includes
balancing acquisitions with drill bit opportunities. Newfield’s domestic areas
of operation include the Gulf of Mexico, the U.S. onshore Gulf Coast, the
Anadarko and Arkoma Basins of the Mid-Continent and the Uinta Basin of the
Rocky
Mountains. The Company has international exploration and development projects
underway in Malaysia, the U.K. North Sea and China.
**The
statements set forth in this release regarding estimated production volumes
and
timing are forward looking and are based upon assumptions and anticipated
results that are subject to numerous uncertainties. Actual results may vary
significantly from those anticipated due to many factors. Newfield’s ability to
produce oil and gas from the Gulf of Mexico is dependent on infrastructure
(such
as host platforms, pipelines and onshore processing facilities) owned by third
parties. Much of this infrastructure was damaged by Hurricanes Katrina and
Rita.
In many cases, Newfield is uncertain of the extent of the damages. As a result,
it is difficult to predict when production will be permitted to resume. In
addition, the storms have caused increased demand for drilling rigs and support
services, which has resulted in delays in planned activities. Other factors
that
may cause actual production to vary significantly from anticipated production
include the availability of drilling rigs and other support services, drilling
results, oil
and
gas
prices, the prices of goods and services, delays in the construction of
infrastructure, delays in obtaining governmental approvals, the availability
of
capital resources, labor conditions and other factors set forth in the Company’s
Annual Report on Form 10-K for the year ended December 31, 2004. In addition,
the drilling of oil and gas wells and the production of hydrocarbons are subject
to governmental regulations and operating risks.
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Newfield
Exploration Company
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For
information, contact:
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363
N. Sam Houston Parkway East, Ste. 2020
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Steve
Campbell
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Houston,
TX 77060
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(281)
847-6081
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http://www.newfld.com
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info@newfld.com
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###