Newfield lifts Utah Monument Butte oil flow

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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