Newfield Exploration Provides Williston Basin Update

HOUSTON, Sept. 2 /PRNewswire-FirstCall/ -- Newfield Exploration Company
(NYSE: NFX) today announced drilling results from recent wells in its
Williston Basin program. Over the last three years, Newfield has added
significant acreage in the Williston Basin and now has an interest in
approximately 170,000 net acres.
Lost Bear Prospect
Newfield's Lost Bear Prospect area, located along the Nesson Anticline in
McKenzie and Dunn Counties, North Dakota, covers 13,600 gross acres (7,740
acres net to NFX). The area is prospective for the Bakken and Sanish/Three
Forks formations. Newfield expects to drill 4-6 wells in the Lost Bear area in
2008. Newfield's average working interest in the area is approximately 57%.
Recent results include:
-- The Jorgenson 1-10H was recently completed in the Bakken formation and
tested at 911 barrels of oil equivalent over a 24-hour period. Newfield
operates the well with a 54% interest. A second well - the Jorgenson 1-4H --
has been drilled in this prospect area and is currently being completed in the
Bakken formation with oil sales expected in the next several weeks.
-- The Jorgenson 1-15H will commence drilling in early September and will
target the Sanish/Three Forks formation. Newfield will have a 26% interest in
the well.
Newfield has identified more than 10 drilling locations in the Lost Bear
Prospect area and will be actively drilling these locations through the end of
2009. Success with this initial drilling effort would set up additional
development/infill locations.
Westberg Prospect
Newfield's Westberg Prospect area is located along the Nesson Anticline in
Williams County, North Dakota. The Westberg area covers 18,000 gross acres
(approximately 8,050 acres net to NFX) and is prospective for the Bakken and
Sanish/Three Forks formations. Newfield and partner Concho Resources each hold
a 50% interest in the Westberg area. Based on initial encouraging results,
Newfield expects to drill 5-7 wells in the Westberg Prospect area in 2008.
Recent results include:
-- The Larsen 1-16H well was recently completed in the Bakken formation.
Production from the well averaged 710 BOPD equivalent over a 22-hour period.
Newfield has a 46% interest in the well.
-- The Rolfsrud 1-32H well has been drilled and is awaiting completion in
the Bakken formation. Newfield is the operator. Following this well the rig
will move to Newfield's Lost Bear area to test the Sanish/Three Forks
formation in the Jorgenson 1-15H (referenced above). Newfield has a 46%
interest in the well.
Newfield has identified more than 20 drilling locations in the Westberg
Prospect area and has a two-rig drilling program planned throughout 2009.
Success with this initial drilling effort would set up additional
development/infill locations.
Newfield's 170,000 net acre position in the Williston Basin includes
16,000 net acres along the Nesson Anticline, nearly 100,000 acres west of the
Nesson and 54,000 net acres in the Elm Coulee Field of Richland County,
Montana. Newfield expects to operate at least 2 rigs in the Williston Basin
throughout 2009.
Newfield Exploration Company is an independent crude oil and natural gas
exploration and production company. The Company relies on a proven growth
strategy of growing reserves through an active drilling program and select
acquisitions. Newfield's domestic areas of operation include the Anadarko and
Arkoma Basins of the Mid-Continent, the Rocky Mountains, onshore Texas and the
Gulf of Mexico. The Company has international operations in Malaysia and
China.
**This release contains forward-looking information. All information other
than historical facts included in this release, such as information regarding
drilling and development plans, the timing of activities and the timing and
rates of production from wells, fields and regions, is forward-looking
information. Although Newfield believes that these expectations are
reasonable, this information is based upon assumptions and anticipated results
that are subject to numerous uncertainties and risks. Actual results may vary
significantly from those anticipated due to many factors, including drilling
results, oil and gas prices, industry conditions, the prices of goods and
services, the availability of drilling rigs and other support services, the
availability of capital resources, labor conditions and severe weather
conditions. In addition, the drilling of oil and gas wells and the production
of hydrocarbons are subject to governmental regulations and operating risks.
For information, contact:
Investor Relations: Steve Campbell (281) 847-6081
Media Relations: Keith Schmidt (281) 674-2650
Email: info@newfield.com

SOURCE Newfield Exploration Company

Investor Relations: Steve Campbell, +1-281-847-6081; or Media Relations: Keith
Schmidt +1-281-674-2650, info@newfield.com, both of Newfield Exploration
Company