Newfield Announces Uinta Basin Crude Oil Supply Agreement

By Eddie Staley
Benzinga Staff Writer
December 05, 2011 10:02 AM

Symbols: NFX

Newfield Exploration Company (NYSE: NFX) today announced the signing of a crude oil supply agreement with Tesoro Corporation to provide 18,000 barrels per day of supply capacity at Tesoro's refinery in Salt Lake City, Utah. The new agreement spans a seven-year period, with commitments commencing in 2013, and secures additional supply capacity for Newfield's planned oil growth in the Uinta Basin.

The oil price differential associated with this agreement is not materially different than Newfield's current supply contracts in the basin.

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Newfield Announces Uinta Basin Crude Oil Supply Agreement

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