Former employees of Houston-based Tenneco Inc. announced...

Former employees of Houston-based Tenneco Inc. announced the formation of a new company to explore for oil and gas in the Gulf of Mexico. Newfield Exploration Co. will be headquartered in Lafayette, La., and initially staffed by about 25 former employees of Tenneco Oil Exploration & Production. Joe B. Foster, former executive vice president of Houston-based Tenneco, will serve as chairman and chief executive.