Wednesday, August 4, 2010

Newfield Exploration (NYSE: NFX): Eagle Ford Shale

By Andrea:

Newfield Exploration Company (NYSE: NFX) is expanding its net acreage in Eagle Ford Shale. The company announced that it added two new Oil Plays to its total acreage in late 2009 and early 2010. One of the two plays includes the Eagle Ford Shale and Pearsall Shale in the Maverick Basin of Southwest Texas. The project includes 300,000 net acres in both Maverick County and Dimmit County. Newfield Exploration Company's (NYSE: NFX) first assessment well in Eagle Ford Shale was 5000 feet in length. They plan to drill 15 more wells in the second half of 2010 and will operate up to 4 rigs.

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