Newfield completes tender, consent solicitation for 7 5/8% notes

By Devika Patel

Knoxville, Tenn., Feb. 19 - Newfield Exploration Co. said it has accepted approximately $143 million, or 82%, of its $175 million of outstanding 7 5/8% senior notes due 2011 tendered as part of the company's tender offer and consent solicitation that began on Jan. 20.

The offer expired at 11:59 p.m. ET on Feb. 18.

The company paid $1,066 per $1,000 principal amount of notes. This includes a consent payment of $10.00 per note regardless of whether that note was tendered before or after the consent deadline, which originally was 5 p.m. ET on Feb. 3.

Holders also received accrued interest up to but excluding the settlement date.

J.P. Morgan Securities Inc. (800 245-8812 or call collect 212 270-3994) was the dealer manager and solicitation agent. MacKenzie Partners, Inc. (800 322-2885 or call collect 212 929-5500) was the information agent.

Houston's Newfield Exploration is an independent crude oil and natural gas exploration and production company.

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