Newfield makes two discoveries in Gulf of Mexico

HOUSTON: Newfield Exploration Company (NYSE: NFX) has made two discoveries this year in the deepwater Gulf of Mexico, Pyrenees and Winter. Both wells were drilled by Diamond Offshore semisubmersible Ocean Star.

The Pyrenees discovery in 2,100 feet (640 m) of water on Garden Banks Block 293 encountered around 125 feet (38 m) of net hydrocarbon pay in three separate intervals. The well was temporarily abandoned and the partners are working on field development plans. Delineation drilling is planned for the second half of 2009. Newfield operates Pyrenees with 40 percent working interest. Additional partners include Stone Energy Corp., Ridgewood Energy Corp., Arena Exploration and Deep Gulf Energy, each with 15 percent interest.

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