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Newfield Exploration Issues Mid-Year Operational Update

Wright 1H-9 Based on available public data, Newfield's Wright well (74% working interest) had the highest initial flow rate (all rates are 24-hour) achieved to date in the South Cana Woodford. The well had an initial gross production rate of more than 1,900 BOEPD (27% oil).  The well averaged approximately 1,450 BOEPD over its first 7 days of production. The well has a 4,730' lateral length.

Branch 1H-16 The Branch well (100% working interest) had an initial gross production rate of more than 1,850 BOEPD (27% oil). The well averaged approximately 1,550 BOEPD over its first 7 days of production. The well has a 4,950' lateral length.

Whitt 1H-25 The Whitt well (93% working interest) had an initial gross production rate of approximately 1,050 BOEPD (50% oil). The well averaged nearly 900 BOEPD over its first 7 days of production. The well has a lateral length of 4,900'.

Faith 1H-12 The Faith well (52% working interest) had an initial gross production rate of nearly 1,000 BOEPD (22% oil). The well averaged approximately 900 BOEPD over its first 30 days of production. The well has a lateral length of 4,200'.

Greenwood 1H-4 The Greenwood well (63% working interest) had an initial gross production rate of 1,000 BOEPD (16% oil).  The well averaged 930 BOEPD over its first 7 days of production. The well has a lateral length of 4,900'.

Williams 1H-19 The Williams well (94% working interest) had an initial gross production rate of approximately 650 BOEPD (69% oil). The well averaged 430 BOEPD over its first 30 days of production. The well has a lateral length of 4,900'.

The Company also has approximately 55,000 net acres located in the "North Cana." This region is in very early stages of assessment, with drilling planned in the second half of 2012.

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