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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): MAY 4, 2001
NEWFIELD EXPLORATION COMPANY
(Exact name of registrant as specified in its charter)
Delaware 1-12534 72-1133047
(State or other jurisdiction (Commission file (I.R.S. employer
of incorporation or organization) number) identification number)
363 N. Sam Houston Parkway E.
Suite 2020
Houston, Texas 77060
(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code: (281) 847-6000
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Item 5. Other Events
See the following press release by Newfield Exploration Company
announcing stock repurchase program.
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Newfield Board Approves Stock Repurchase Program
HOUSTON, May 4, 2001 -- Newfield Exploration Company (NYSE: NFX)
today announced that its Board of Directors authorized the expenditure of up
to $50 million to repurchase shares of the Company's common stock. On a
diluted basis, the Company has approximately 45 million shares of common stock
outstanding. The Company anticipates that it will fund the repurchases
through cash flow from operations and borrowings under its revolving credit
facility. The repurchases may be effected from time to time in accordance
with applicable securities laws, through solicited or unsolicited transactions
in the market or in privately negotiated transactions. No limit was placed on
the duration of the repurchase program. Subject to applicable securities
laws, such purchases will be at times and in amounts as the Company deems
appropriate.
Newfield Exploration is an independent crude oil and natural gas
exploration and production company. The Company has a solid asset base of
producing properties and exploration and development drilling opportunities
and operations primarily in the Gulf of Mexico, the Anadarko Basin of
Oklahoma, along the U.S. Gulf Coast and offshore Australia. Newfield balances
its drilling program with acquisitions in select areas in the U.S. and
overseas.
Newfield Exploration Company For information contact:
363 N. Sam Houston Parkway East, Ste. 2020 Steve Campbell
Houston, TX 77060 (281) 847-6081
http://www.newfld.com sccampbell@newfld.com
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this Form 8-K to be signed on its behalf by the
undersigned thereunto duly authorized.
NEWFIELD EXPLORATION COMPANY
Date: May 17, 2001 By: /s/ TERRY W. RATHERT
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Terry W. Rathert
Vice President and Chief Financial Officer
(Authorized Officer and Principal
Financial Officer)