Team meeting

Newfield Exploration Focus Areas

Newfield Exploration Company is an independent crude oil and natural gas exploration and production company headquartered in The Woodlands, Texas. Newfield is focused on domestic, liquids-rich unconventional resource plays, located primarily in the Anadarko and Arkoma basins of Oklahoma, the Williston Basin of North Dakota and the Uinta Basin of Utah. The Company also has oil developments offshore China.

2016-Priorities
Separator

Oklahoma

Mid-Continent

Newfield entered Oklahoma in 2001. Today, we have nearly 550,000 net acres in the Anadarko and Arkoma basins combined. The largest producing area in our portfolio is located in the Anadarko Basin with nearly 400,000 net acres in our SCOOP and STACK plays. At year-end 2016, the Anadarko Basin comprised 64 percent of our total proved reserves.

In 2017, the Company is actively drilling development multi-well pilots to better understand future well spacing and completion designs. In addition, the Company allocated approximately $100 million to test additional resource potential on its existing acreage in the Anadarko Basin. The new program, called SCORE, stands for Sycamore, Caney and Osage Resource Expansion.

OKLAHOMA FACT SHEET

ANADARKO BASIN
64% of 2016 Total Domestic Proved Reserves
67% of 2017e Total Domestic Production
85% of 2017e Capital Budget


Separator

Utah and North Dakota

test2

In the Uinta Basin of Utah, we have more than 215,000 net acres. Our Uinta Basin operations can be divided into two areas—the Greater Monument Butte Unit (GMBU) waterflood and the Central Basin. We concluded a year-long 20-well horizontal drilling joint venture program in the second quarter of 2017 in the Central Basin—designed to better understand our drilling and completion strategies and to improve the economics of plays in the Uteland Butte and Wasatch formations. In 2017, we continue to run a single rig program with plans to drill nine wells by year-end.

We continue to run a single rig program in the Williston Basin where we hold approximately 82,000 net acres. After drilling more than 200 wells since entering the Basin, Newfield continues to refine and improve its operations. Most recently, the Company has been using larger concentrations of proppant and fluids in its completions. As a result, the type curve for its wells was raised to 1 MMBOE. “Best-in-class” drilling and completions are delivering completed well costs at approximately $5.7 million—SXL wells with 10,000’ lateral lengths. Newfield has a 200-plus well inventory of high return wells remaining in its portfolio in the Basin.

UTAH AND NORTH DAKOTA FACT SHEET

Separator

China

international

Approximately two percent of our proved reserves at year-end 2015 are located offshore China. There are no plans underway for additional development drilling in China in 2016. Cash flow from production is being used to fund our domestic drilling programs.