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 producing oil assets offshore China.

Strategy2018
Separator

Oklahoma

Mid-Continent

Newfield entered Oklahoma in 2001. Today, we have more than 500,000 net acres in the Anadarko and Arkoma basins combined. The largest producing area in our portfolio is located in the Anadarko Basin with approximately 400,000 net acres in our SCOOP and STACK plays. At year-end 2017, the Anadarko Basin comprised 70 percent of our total proved reserves. During 2017, Newfield participated in approximately two dozen resource expansion tests in the Sycamore, Caney, Osage and Meramec/Woodford Extension (SCORE) areas. Our efforts to date and the results of the SCORE program contribute to the identification of more than 6,500 risked locations and 8,000 unrisked locations in the Anadarko Basin.

In 2018, the Company is transitioning toward drilling multi-well developments utilizing various spacing units. The Company plans to invest as much as $1 billion in the Anadarko Basin over the next year to further grow production and cash flow from these assets.

OKLAHOMA FACT SHEET

ANADARKO BASIN
70% of 2017 Total Domestic Proved Reserves
69% of 2018e Total Domestic Production
80% of 2018e Capital Budget



Separator

Utah and North Dakota

test2

In the Uinta Basin of Utah, we have more than 225,000 net acres. Our Uinta Basin operations can be divided into two areas—the Greater Monument Butte Unit (GMBU) and the Central Basin. We concluded a 20-well horizontal drilling joint venture program in 2017 in the Central Basin. Results from the joint venture were encouraging and provided confidence in the asset’s ability to deliver long-term returns. In 2018, we continue to run a single rig program to hold by production the Company’s acreage and preserve the long-term option of the play.

We continue to run a single rig program in the Williston Basin where we hold approximately 82,000 net acres. After 10 years of operating in North Dakota, Newfield continues to utilize learnings from the Williston Basin—driving improvements across its assets. In early 2018, the type curve for the Company’s wells in the Basin was increased to more than 1 MMBOE. “Best-in-class” drilling and completions are delivering completed well costs at approximately $6 million or less. These wells are SXL wells with 10,000’ lateral lengths. Newfield has a 200-plus inventory of high return wells remaining in its portfolio in the Basin.

UTAH AND NORTH DAKOTA FACT SHEET


Separator

China

international

Less than one percent of our proved reserves at year-end 2017 are located offshore China. There are no plans for additional development drilling. Cash flow from production is being used to fund our domestic drilling programs.