Newfield lifts Utah Monument Butte oil flow

04/04/2005
Newfield Exploration Co., Houston, is pressing development of giant Monument Butte oil and gas field in the northern Uinta basin, where it estimates more than 1 billion bbl of oil in place.While trying to maximize recovery of low-pour-point “black wax” oil from the Eocene Lower Green River formation at 5,000-6,500 ft, Newfield also plans to test the potential of deeper gas formations.Newfield’s working interest averages 80% at Monument Butte, acquired in its $575 million purchase of private Inland Resources Inc., Denver, in August 2004.Newfield, which used the purchase to establish a Rocky Mountain focus area, then estimated that it might expand production for 10 years b...
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