Newfield calls 8 3/8% notes

New York, April 3 - Newfield Exploration Co. said it will redeem its $250 million 8 3/8% senior subordinated notes due 2012 on May 3.

Funding for the redemption will come from the company's sale of $550 million 6 5/8% senior subordinated notes due 2016, which closed Monday.

Newfield, a Houston-based oil and gas exploration and production company, will also use proceeds for general corporate purposes and its 2006 capital program.

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