Newfield Hits in Gulf of Mexico

Newfield Exploration Company updates its Gulf of Mexico drilling program, including significant discoveries in the deep shelf play.

West Delta 21 #6: The WD 21 #6 well was drilled to a total depth of 16,000' and encountered a gross hydrocarbon interval of 250' with net pay of 165'. Completion operations are underway with first production expected in the fourth quarter of 2002. Newfield is operator with a 62% working interest.

Eugene Island 163 #1: The EI 163 #1 well was drilled to a total depth of 15,521' and encountered 35' of net gas pay. The discovery will be tied back to a Newfield-operated platform at Eugene Island 172. First production is expected in the fourth quarter of 2002. Newfield is the operator with an 82.5% working interest.

Eugene Island 199 A-16 ST: The EI 199 A-16 ST was drilled to a total depth of 14,484' and encountered 40' of net gas pay. The well was drilled from Newfield's EI 198 "A" production platform. The new well was completed and is now on-line. Newfield operates the well with a 100% working interest.

High Island 355 #1, #2: Two successful wells were recently drilled at HI 355. The #1 well was drilled to a total depth of 9,500' and encountered 135' of net gas pay. The #2 well was drilled to a total depth of 10,000' and found 150' of net gas pay. A production facility will be set later this year with first production expected in the fourth quarter of 2002. Newfield operates the development with an 82.5% working interest.

Newfield is currently participating in a well at West Cameron 201. The well is currently drilling with a planned total depth of 19,500'. Newfield owns a 33.3% working interest in this outside-operated prospect.

The Company recently drilled two dry holes: Eugene Island 38 #15, drilled to a total depth of 15,354', and West Delta 43 #2, drilled to a total depth of 11,000'.

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