Newfield Exploration to repay facility borrowings via common stock

By Tali Rackner

Norfolk, Va., Feb. 26 – Newfield Exploration Co. plans to repay amounts outstanding under its credit facility with the proceeds from a public offering of common stock, according to a press release.

Proceeds will also be used to repay money market lines of credit and for general corporate purposes.

Newfield is an oil and gas company based in the Woodlands, Texas.

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