Newfield,in strategy shift,to pay US575-mil for waxy Utah crude producer

摘要

Houston-Newfield Exploration seized a foothold in the Rockies Aug 6 with the us575-mil acquisition of Denver's privately held Inland Resources,a company best known for its efforts to turn so-called Utah "black wax" into commercial oil production.The "black wax" refers to the hea>/y,waxy crude from Inland's primary asset,the 110,000-acre Monument Butte Field in the Uinta Basin of Northeast Utah.