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New horizontal resource play adds nearly 300 MMBOE of net resource potential Net undeveloped resource potential increased to more than 700 MMBOE Increasing rig count to accelerate production growth Drilling inventory increased to more than 6,000 oil locations
EDA 3
EDA 2
EDA 1/ Fee
2004
88,000 Net Acres
2005
114,000 Net Acres
2006
2007
162,000 Net Acres
2008
2009
173,000 Net Acres
2010
2011
250,000 Net Acres
8.0
6.0 4.0
350 300 250 200 150 100 50 0 2007 2008 2009 2010
Contiguous acreage
30% of Utahs total daily production 42% of Basins total daily production
, 6,000 TVD
11,500 TVD
Green River
Altamont / Bluebell
UTAH
HIGHLIGHTS
Operated, high working interest
Play Type
Net Acres
Locations
Avg. WI %
ECONOMIC ASSUMPTIONS
30-Day Avg. LOE/well/month Tax (% of Revenue) Fuel Gas % 82 BOEPD $1,700 4 7% 4%
Green River
165,000
>4,000
75
73%
Altamont / Bluebell
Natural Buttes
~10 Miles
Area
Total GMBU :
2,800
2,600 5,400
Uteland Butte
Altamont / Bluebell
UTAH
HIGHLIGHTS
Large aerial extent Horizontal assessment results encouraging
Early completion optimization yielding >50% improvement in 30-day averages Geo-pressured upside
IP 503 BOEPD
~10 Miles
IP 395 BOEPD
Play Type
Net Acres
Locations
Avg. WI %
ECONOMIC ASSUMPTIONS
30-Day Avg. 370 BOEPD LOE/well/month $4,500 Tax (% of Revenue) 4 7% Fuel Gas % 4%
Uteland Butte
200,000
>1,800*
67%
Wasatch
Altamont / Bluebell
UTAH
IP 1359 BOEPD IP 1479 BOEPD
HIGHLIGHTS
IP 799 BOEPD
IP 805 BOEPD
Recent wells 24-hour average IP: Greater Monument > Butte Unit 1,000 BOEPD
~10 Miles
Play Type
Locations
Avg. WI % 58%
ECONOMIC ASSUMPTIONS
30-Day Avg. 470 BOEPD LOE/well/month $6,000 Tax (% of Revenue) 4 7% Fuel Gas % 4%
Wasatch
>380*
HIGHLIGHTS
Extension of Altamont/ Bluebell and Monument Butte
Productive throughout entire position in multiple oil zones Deep natural gas potential HBP through oil production Natural Buttes Additional oil zones untested, i.e. Black Shale, etc.
~10 Miles
Play Type
Net Acres
Locations
Avg. WI%
PV10 $MM*
BTAX IRR %*
Green River
Uteland Butte Wasatch Deep Gas
165,000
200,000 70,000 250,000
>4,000
>1,800 >380 >3,000
75
300 >260 -
$0.93
$2.8 $2.6 -
73%
67% 58% ~70%
82%
81% 78% ~80%
$1.2
$5.0 $4.5 -
>100%
>100% >100% -
360
300 >45 >10 TCFE
10
250
Green River
200
150
100
50
0 40 50 60 70 80 90 100
$600
HIGHLIGHTS
Multiple play types allow for flexible invests to optimize production yields Additional drilling efficiency gains allow for higher well count per rig line Significant infrastructure investments in 11 and 12 Services secured to execute 2012 plan
$500
$400
$300
$200
$100
$0 2011e 2012e
12
20,000
# Permits
40,000
BOPD
400
200
0
2006 2007 2008 2009 2010 2011 2012
BLM/BIA
State/Fee
NFX production utilizes total wax capacity Regional increase in refining capacity Arrangements with five area refiners Quality oil 33 API gravity
o
Ability to permit on State and Federal lands Increased permits leads to higher rig count Flexibility in capital deployment
HIGHLIGHTS
in line with growth plans expansion to support future growth relieved with additional new state acreage
Permit constraints
15,000
2009
2010
2011e
2012e
14
ADDITIONAL INFORMATION
15
Green River
50,000
70
60 50 40 30 20 10 0 0
30,000
10,000
20%
1
30%
2
37%
3
43%
4
48%
5
52%
6
56%
7
59%
8
62%
9
65%
10
Year
Cumulative % EUR
BOPD
Cumulative Oil
16
Gross Cumulative BO
80
40,000
Gross BOPD
Uteland Butte
100,000
21%
1
30%
2
36%
3
41%
4
46%
5
50%
6
53%
7
56%
8
59%
9
62%
10
Year
Cumulative % EUR
BOPD
Cumulative Oil
Gross Cumulative BO
Gross BOPD
17
Wasatch
250,000
Gross BOPD
26%
1
36%
2
44%
3
50%
4
54%
5
Year
58%
6
62%
7
65%
8
68%
9
71%
10
Cumulative % EUR
BOPD
Cumulative Oil
18
Gross Cumulative BO
350
200,000
unknown factors not discussed herein or in Newfields SEC filings could also have material adverse effects on forward-looking
statements. Readers are cautioned not to place undo reliance on forward-looking statements, which speak only as of the date of this presentation. Unless legally required, Newfield undertakes no obligation to publicly update or revise any forward-looking statements. Cautionary Note to Investors Effective January 1, 2010, the SEC permits oil and gas companies, in their filings with the SEC, to disclose only proved, probable and possible reserves that meet the SECs definitions for such terms. Newfield may use terms in this presentation, such as resources, net resources, net discovered resources, net risked resources, net lower-risked captured resources, net risked captured resources, gross resources, gross resource potential, gross unrisked resource potential, gross unrisked resources, and similar terms that the SECs guidelines strictly prohibit in SEC filings. Investors are urged to consider closely the oil and gas disclosures in Newfields 2010 Annual Report on Form 10-K, available at www.newfield.com, www.sec.gov or 19 by writing Newfield at 363 N. Sam Houston Pkwy E., Suite 100, Houston, Texas 77060 Attn: Investor Relations.