As of September 22, approximately 1 billion cubic feet equivalent (Bcfe) of net production has been deferred. An additional 26 MMcfe/d (net) remains offline today awaiting repairs to both operated and non-operated production facilities and pipelines in the Ship Shoal, Main Pass and Viosca Knoll areas of the Gulf. Newfield estimates that these repairs will take 30-60 days. Combined, Newfield expects that approximately 2.5 Bcfe of net production will be deferred due to Hurricane Ivan.
Newfield also disclosed that a portion of anticipated production volumes from the outside-operated Glider Field, located in the deepwater Gulf of Mexico, would be deferred as a result of damage to the subsea tree on one of the two producing wells. The damage occurred following well completion operations and during rig demobilization. The operator is working to repair the system and resume production from the wellbore. Newfield estimates that deferred production from Glider will be approximately 2.5 Bcfe net. Including the impact of Ivan and the deferred production at Glider, the Company now expects to produce about 240 Bcfe in 2004.
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