Newfield groups prepare for drilling on gulf shelf ultradeep Treasure blocks

What Newfield Exploration Co., Houston, said is likely to become the deepest well on the Gulf of Mexico shelf might spud before the end of 2004.The well will face high geological and mechanical risks as it tests objectives from 27,000 ft to more than 30,000 ft subsea. These risks are more than offset with recovery potential amounting to potential fields that could contain several trillion cubic feet of recoverable gas, said David A. Trice, Newfield president and CEO.Newfield has been working 3 years on the play, which it acquired with the assets of EEX Corp. in 2002. With the signing of recent agreements, Newfield has tapped into the knowledge and experience of the world's largest two...

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