Newfield Exploration signs agreement to sell Granite Wash assets for $588M Newfield Exploration announced the signing of a $588M purchase and sale agreement for its Granite Wash assets to Oklahoma City-based Templar Energy. The sale will have an effective date of July 1 and is expected to close in Q3. Newfield's assets in the Granite Wash include approximately 42K net acres and current net daily production is nearly 65 MMcfe/d, of which approximately 60% is natural gas. Proved net reserves at year-end 2013 were approximately 38 MMBOE. Newfield intends to use the proceeds from this sale to call its 7 1/8% Senior Subordinated Notes due in 2018.
UBS to hold a conference Houston Energy Bus-less Tour is being held in Houston on September 17-19 with webcasted company presentations to begin on September 17 at 8:30 am; not all company presentations may be webcasted. Webcast Link