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CREDIT SUISSE ENERGY SUMMIT – Newfield Exploration Co.

Newfield Exploration Co. · Feb 2, 2010 · 24 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. CREDIT SUISSE ENERGY SUMMIT – Newfield Exploration Co. – slide 1
    Credit Suisse Energy Summit February 2, 2010
  2. CREDIT SUISSE ENERGY SUMMIT – Newfield Exploration Co. – slide 2
    Recent Events Continued Improvements in Woodford Economics Super-Extended Lateral Completions (SXLs) 4 On-line: IPs Range from 6 15 MMcfe/d 4 5 Additional SXLs in Mid-February 2010 Granite Wash Completions Underway, Active Drilling…
  3. CREDIT SUISSE ENERGY SUMMIT – Newfield Exploration Co. – slide 3
    Where We Are Headed in 2010 & Beyond Our Vision 2010 Action Items Grow Woodford Production 20% 1. Continued Focus on Domestic Resource Grow Monument Butte Production 10-15% Plays of Scale Grow Granite Wash Production 20% Recently…
  4. CREDIT SUISSE ENERGY SUMMIT – Newfield Exploration Co. – slide 4
    Woodford Shale 66-8 -8 Operated Operated Rigs Rigs in in 2010 2010 NFX Discovered in 2003 Grow Grow Production Production 20% 20% inin 2010 2010 Initially A Vertical Play 300 300 NFX NFX Operated Operated HZTHZT Wells…
  5. CREDIT SUISSE ENERGY SUMMIT – Newfield Exploration Co. – slide 5
    Woodford Shale Type Well (January 2010) Gross Production % EUR Recovered vs (MMcfed) Time 5.0 60% Type Curve EUR Recovery 50% 4.0 Average 1st Month Production 40% 3.0 ASSUMPTIONS: 30% Type Curve EUR: 5 Bcfe 2.0 Avg.…
  6. CREDIT SUISSE ENERGY SUMMIT – Newfield Exploration Co. – slide 6
    Woodford Shale Average Lateral Feet Drilled / Rig / Year 8 Miles / Rig 45 40.6 Thousand Lateral Feet / Rig / Year e m e nt Im prov 31.6 12 1% 30 3 Miles / Rig 18.4 17.5 15 0 2006 2007 2008 2009 6
  7. CREDIT SUISSE ENERGY SUMMIT – Newfield Exploration Co. – slide 7
    Woodford Shale Wells Drilled and Annual Avg. Rig Count 100 20 91 84 85 80 Wells Drilled Annually Rigs (Annual Average) 15 60 13 12 42 40 11 10 20 6 0 5 2006 2007 2008 2009 Wells TD'd Annually Rigs 7
  8. CREDIT SUISSE ENERGY SUMMIT – Newfield Exploration Co. – slide 8
    Woodford Shale Lateral Length Comparisons Longer Laterals Improve Woodford Economics 2009 2008 2007 2006 2005 - 1,000 2,000 3,000 4,000 5,000 6,000 Gross Perforated Interval (Ft) Fayetteville Barnett Industry…
  9. CREDIT SUISSE ENERGY SUMMIT – Newfield Exploration Co. – slide 9
    Woodford Shale Increasing EURs per Well (Bcfe) 5-7 6 5 4 3 Bcfe 3 0 2006 2007 2008 2009 2010e EUR/Well/Year 9
  10. CREDIT SUISSE ENERGY SUMMIT – Newfield Exploration Co. – slide 10
    Gross NFX Daily Production MMCFED, Well Count - 50 100 150 200 250 300 350 Jan-05 Feb-05 Mar-05 Apr-05 May-05 Jun-05 Jul-05 Aug-05 Sep-05 Oct-05 Nov-05 Dec-05 Jan-06 Vertical Production Feb-06 Horizontal…
  11. CREDIT SUISSE ENERGY SUMMIT – Newfield Exploration Co. – slide 11
    Granite Wash Horizontals Results to Date RESULTS TO DATE Well Name Initial Production Lateral Length NFX Working Interest McCoy 27-7H 25 MM/D + 1,900 BCPD 3,400 74% Britt Ranch I4-13H 8 MM/D + 180 BCPD 2,900 100% McCoy 27-8H 21 MM/D +…
  12. CREDIT SUISSE ENERGY SUMMIT – Newfield Exploration Co. – slide 12
    Uinta Basin / Monument Butte Foundational Oil Asset 5-11 Results: 100 BOPD 1-20 & 1-29 Moon Results: Avg. 350 BOPD iles 7-33 4M Results: 400 BOPD 10 Miles Uinta Basin Facts (M. Butte, Ute Tribal, Horseshoe Bend)…
  13. CREDIT SUISSE ENERGY SUMMIT – Newfield Exploration Co. – slide 13
    Monument Butte Black Wax Market Improvements SLC Waxy Crude Oil Refining Capacity and Potential Growth 70,000 New field Production 60,000 All Others Potential Refining Capacity 50,000 Existing Refining Capacity 40,000 BOPD…
  14. CREDIT SUISSE ENERGY SUMMIT – Newfield Exploration Co. – slide 14
    Williston Basin LEGEND NFX Leasehold Other Operators Horiz. Bakken Activity Recent Industry Successes BIG VALLEY 274,000 Net Acres NFX Net Acres: 51,605 Development & Appraisal Operator: NFX 3030 BOPD IP 2010: 3 Rig Program Grow…
  15. CREDIT SUISSE ENERGY SUMMIT – Newfield Exploration Co. – slide 15
    Southern Alberta Basin Blackfeet Indian Nation Pikuni Prospect MONTANA Highlights St. Mary New agreement with Blackfeet (Dec. 2009) adds Cut Bank 156,000 net acres Browning East Glacier Total 221,000 net acres…
  16. CREDIT SUISSE ENERGY SUMMIT – Newfield Exploration Co. – slide 16
    Hedge Summary* Natural Gas Period Volume Hedged Fixed Price Collars/3-Way Collars MMCF/D 1Q10 417 6.79 8.50 x 10.44 2Q10 383 6.40 70% 3Q10 383 6.40 4Q10 308 6.49 1Q11 320 6.55 4.50 x 6.00 x 7.91 2Q11 320 6.55 4.50 x 6.00 x…
  17. CREDIT SUISSE ENERGY SUMMIT – Newfield Exploration Co. – slide 17
    Appendix Slides 18
  18. CREDIT SUISSE ENERGY SUMMIT – Newfield Exploration Co. – slide 18
    Marcellus Shale Play APPALACHIA Why Marcellus 50:50 NFX / Hess Massive Gas Resource Covers 50 MM Acres 489 Tcfe Potential Reserves PENNSYLVANIA (Penn State Study) Proximity to Major Gas Markets in the Northeastern US Early in its…
  19. CREDIT SUISSE ENERGY SUMMIT – Newfield Exploration Co. – slide 19
    Malaysia Oil Developments CHINA PNL PNL On-line On-line 11,000 11,000 BOPD BOPD Abu Abu PM 323 North On-line Lukut On-line 10,000 10,000 Lerek BOPD BOPD PM SOUTH PM 329 329 CHINA SEA Puteri Block Block 2C 2C…
  20. CREDIT SUISSE ENERGY SUMMIT – Newfield Exploration Co. – slide 20
    China Oil Developments CHINA 16/05 16/05 22/15 22/15 Bohai Bay (not shown) Current production: PROSPECTS 2,800 BOPD net 12% of CFD 11-6/12-1 Unit Active development JADE JADE PROSPECTS PROSPECTS drilling underway MIC…
  21. CREDIT SUISSE ENERGY SUMMIT – Newfield Exploration Co. – slide 21
    International Oil Growth Forecast 35 30 Average Daily Production (MBOPD) 25 20 15 10 5 0 2005 2006 2007 2008 2009 2010 2011 2012 2013 Malaysia Bohai Bay Pearl Development (as yet unsanctioned timing) 22
  22. CREDIT SUISSE ENERGY SUMMIT – Newfield Exploration Co. – slide 22
    Newfields GOM Deepwater Leasehold Pumper/Axe Pumper/Axe SOUTH MARSH ISLAND Armstrong Armstrong BAY MARCHAND SOUTH PAS S E. ADDN EAST CAME RON N. ADDN VERMILION SOUTH PAS SNemo Nemo WEST DELTA GRAND ISLE Fastball Fastball…
  23. CREDIT SUISSE ENERGY SUMMIT – Newfield Exploration Co. – slide 23
    Portfolio Model Deepwater Prospects Conventional Super Salt Subsalt Deepwater Folds Amplitude Overhang Miocene Amplitude Estimated Size 100 - 250 700 2,000 50 - 150 100 1,000 400 1,000 (Bcfe) Estimated DHC 35 - 50 40 - 80 40 -…
  24. CREDIT SUISSE ENERGY SUMMIT – Newfield Exploration Co. – slide 24
    GOM Deepwater Production 40 35 Net Production BCFE 30 25 20 15 10 5 0 2008 2009e 2010e 2011e 25

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