DRIVING OIL GROWTH Howard Weil Conference March 28, 2011 Lee Boothby, CEO
2011 At a Glance Oil Growth Drivers Gladden DW GOM on-line Granite Wash Marmaton Monument Butte to grow PM 329 Piatu, Malaysia 15% Oily Woodford Williston Basin Eagle Ford Shale 2011e Production 312 -323 BCFE, Up 8 12% Gas…
2011 Game Plan 11 Capital Budget 1.7 Billion HIGHLIGHTS: Intl 17% Substantially 100% Allocated to ONGC Mid-Cont. Oil/Liquids Rich Gas Plays 16% 31% Strategy Balances Growth and 2% GOM Profitability Rockies 34% 8-12% Production…
Uinta Basin / Greater Monument Butte Area Altamont / Bluebell UTAH Horseshoe Bend EDA 3 Acquisition Acreage EDA 2 EDA 1 Greater Monument Monument Butte Unit Butte Natural Buttes Uinta Basin Facts 2004 Current FUTURE…
Gulf of Mexico Developments 2011 Program Gladden On-line 6,000 BOEPD (gross) Pyrenees On-line 4Q11e 50 MMCF/D + 2,400 BCPD (gross) In-hand Developments Dalmatian/Axe 2011 Capital Investments 35 MM on Development 2011…
Williston Basin 2011 Program NORTH DAKOTA DIVIDE BURKE WARD Big Big Valley Valley 5-Rig Program SHERIDAN 40 Total Wells WILLIAMS 94% SXL Wells Westberg Westberg ROOSEVELT Last 3 SXL IP Avg (24 hrs) Catwalk Catwalk…
Granite Wash Stiles Ranch Geologic Intervals Successfully Depth 2011 Program 4 Rig Program Zones Tested 10/10 Marmaton A 12,000 Marmaton B 25 30 Planned Wells Marmaton C Marmaton D-E Focus on Liquid Rich Marmaton Marmaton F-G…
Piatu Development Malaysia Project Update Platform Substantially Complete Jacket and Topsides Sails for Location in April Laying Pipeline to Host Facility Estimated First Production 4Q11 10,000 BOPD (Gross) 70% NFX WI 14,000…
Oily Woodford Shale OKLAHOMA 2011 Program 2 3 Rig Program It s Not Its Not Only Only Dry Dry Gas Gas Drill 12 18 Wells 100 Potential Locations Hughes Results to Date OIL PRONE GAS PRONE 6 Wells On-line to Date Ammo Depot…
Eagle Ford Shale Goal: Goal: Assessment Assessment Moving Moving Toward PRODUCTION Toward Development Development RESULTS, PLANS FORin 2012 in2011 2012 2011 Program MAVERICK COUNTY TEXAS 250 MM Cap-Ex ZAVALA COUNTY Lower…
Southern Alberta Basin BLACKFEET NATION EXPLORATION VENTURE 280,000 Net Acres, NFX Operated MONTANA St. Mary HIGHLIGHTS HIGHLIGHTS 280,000 Net Acre Position 280,000 Net Acre Position Cut Bank East Glacier Browning NFX…
Why Invest in NFX Depth A Diverse Asset Portfolio, Experienced Management Real Oil in the portfolio Natural gas assets largely HBP In Hand Oil/Liquid Assets 100% of 11 Cap-ex to Oil/Liquid Plays Uinta Basin Williston Basin Oil…
2010 YE Reserves Proved 3,712 Bcfe Intl 2010 RESERVE HIGHLIGHTS ONGC 6%Intl GO M 9N%GC 6% PV-10 up 80% 3O % 9% 2P Reserves of 6.2 Tcfe GO Mid-Cont. Rockies M 3% 50% Oil 20-year reserve life 32% Gas 30% Mid-Continent Proved…
2010 YE Reserves 1P and 2P Disclosure 2009 2010 53% 47% 58% 42% Proved PUD Proved PUD Developed Developed Proved Proved Proved Proved Quality 33% Quality 28% 52% 67% Oil 54% 72% 48% Gas 46% Gas Oil Proved 3,616…
Hedge Summary* NATURAL GAS Volume Hedged Fixed Period 3-Way Collars MMCF/D Price 1Q11 380 6.30 4.50 x 6.00 x 7.91 2Q11 380 6.30 4.50 x 6.00 x 7.91 70% 3Q11 380 6.30 4.50 x 6.00 x 7.91 4Q11 320 6.03 4.50 x 5.86x 7.37 50% 2012 278…