Thursday, June 21, 2007

Newfield to sell GoM assets to McMoRan for $1.1 bln

(Reuters) - Newfield, in a statement, said it will use the proceeds to finance the previously announced acquisition of Rocky Mountain properties from Stone Energy Corp. .




McMoRan also agreed to acquire a 50 percent interest in Newfield's non-producing exploration leases on the shelf and certain interests in leases associated with Newfield's Treasure Island ultra-deep prospect inventory.


Read more at Reuters.com Mergers News

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