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Actionable news in NFX: NEWFIELD EXPLORATION COMPANY,

Newfield Sheds Texas Assets for $390M, More Than Expected

Newfield Exploration (NFX) said Wednesday it agreed to sell almost all of its assets in Texas for $390 million.

The Houston oil and gas explorer sold its unconventional assets in South Texas' Eagle Ford Shale to Tulsa, Okla.-based Protégé LLC, which is backed by EnCap Investments for an undisclosed sum. But it didn't disclose the buyer of its conventional natural gas assets in South and west Texas.

Together, the assets produce 12,700 barrels of oil equivalent per day, 35% of which is oil.

Newfield chairman and CEO Lee Boothby said in a...


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