Newfield Exploration Company Closes on Sale of Gulf of Mexico Shelf Assets (ThomasNet)
HOUSTON, Aug. 6 / — Newfield Exploration Company (NYSE:NFX) today announced the closing on its previously announced sale of its Gulf of Mexico shelf assets to McMoRan Exploration Co. (NYSE:MMR) for total cash consideration of $1.1 billion and the assumption of liabilities associated with future abandonment of wells and platforms. Newfield utilized Internal Revenue Code Section 1031 Tax Deferred …
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