Deals
Newfield May Sell Eagle Ford Assets Said Valued at $500 Million
- ‘Anything outside of the Anadarko is open for discussion’: VP
- Company joins Anadarko, Devon, others looking to divest land
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Newfield Exploration Co. has hired two investment banks to find buyers for its acreage in Texas’s Eagle Ford basin and other oil plays as it seeks to focus on Oklahoma’s Anadarko region.
The Woodlands, Texas-based company has formally begun the process of selling its 35,000 net acres in the Eagle Ford, as well as parcels in other parts of South Texas, Stephen Campbell, Newfield’s vice president for investor relations, said in an interview Wednesday. The company’s assets in other areas of the country, including North Dakota and Utah, are also for sale, he said.