Newfield Exploration Company - Gulf of Mexico
Percent of 2009 Total Company Reserves: 5%
Percent of 2010e Total Company Production: 11%
Percent of 2010 Capital Budget: 14%
Location: Headquarters in Houston, Texas, with focus in deepwater development.
Focus: Large inventory of deepwater prospects. Current deepwater field developments are expected to grow production though 2012.
Links:
GOM Leasehold Map
The Pyrenees Area
Our Gulf of Mexico operations are focused on the deepwater. As of mid-May 2010, our daily production from the Gulf of Mexico was approximately 90 MMcfe/d net. We have deepwater developments underway that we expect will lead to significant future production growth. At the end of 2009, we owned interests in 86 deepwater leases and approximately 370,000 net acres. We have an inventory of prospects acquired primarily through federal lease sales over the last several years, and we expect to drill three to five wells per year for the next several years. Our working interest typically ranges from 20-50%. We expect our Gulf of Mexico production to grow more than 60% during 2010.
Pyrenees: A significant discovery in Garden Banks Block 293, which has additional upside potential in deeper objectives. Newfield operates the development with a 40% working interest. First production is expected to commence in late 2011.
Dalmatian: A 2008 deepwater discovery by Newfield and its partners, Dalmatian is located at Desoto Canyon Block 48. The discovery is being developed via a sub-sea tie back to existing infrastructure. We have a 37.5% working interest in this outside operated development. A successful offset to this discovery was drilled in early 2010. First production from Dalmatian is expected in late 2011.
Gladden: Located at Mississippi Canyon 800, the discovery well MC 800 #1 tested approximately 5,600 BOEPD gross. First production is expected in late 2010. Newfield operates with a 57.5% working interest.