NEWFIELD EXPLORATION COMPANY (NYSE:NFX) Files An 8-K Entry into a Material Definitive Agreement

ME Staff 8-k
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NEWFIELD EXPLORATION COMPANY (NYSE:NFX) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement.

Amended and Restated Credit Agreement

On March23, 2018, the Company refinanced its existing revolving credit facility by entering into a revolving credit facility represented by an Amended and Restated Credit Agreement, dated as of March23, 2018, by and among the Company, the lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent, (the “Credit Agreement”), which amended and restated the Company’s existing credit facility in its entirety. The Credit Agreement, among other things:

· extended the maturity from June25, 2020 to May1, 2023; and

· added mechanics to increase commitments, subject to certain conditions, so long as the aggregate commitments under the credit facility do not exceed $2,750,000,000.

The foregoing description of the Credit Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Credit Agreement. The Company will file the Credit Agreement with its quarterly report on Form10-Q for the fiscal quarter ending March31, 2018.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The description of the Credit Agreement in Item 1.01 is incorporated herein by reference.


About NEWFIELD EXPLORATION COMPANY (NYSE:NFX)

Newfield Exploration Company is an independent energy company engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids (NGLs). The Company’s operations are focused primarily on large scale, onshore liquids-rich resource plays in the United States. Its segments are the United States and China. Its principal areas of operation are the Anadarko and Arkoma Basins of Oklahoma, the Williston Basin of North Dakota, the Uinta Basin of Utah and the Maverick, and Gulf Coast basins of Texas. In addition, it has oil developments offshore China. Its proved reserves of over 510 million barrels of oil equivalents (MMBOE) consist of over 310 MMBOE proved developed producing, 20 MMBOE proved developed non-producing and 180 MMBOE proved undeveloped reserves. Its proved liquids reserves are over 290 million barrels. Over 71% of its proved liquid reserves are crude oil or condensate. Its proved natural gas reserves are over 1,305 billion cubic feet (Bcf).