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Newfield Exploration Company - Social Responsibility

We strive to do the right things. We examine the potential impact our operations and actions have in the areas where we do business.  Our decision making includes the interests of our stakeholders including: investors, employees, communities, business partners and others in the areas where we conduct operations. We take responsibility for our actions. We work to improve the communities in which we live and work.

Newfield Foundation: Giving Back to Our Communities

In 2001, we formed the Newfield Foundation to play an important role in enhancing the quality of life in communities in which we are active. At mid year 2008, Newfield had contributed nearly $10.5 million to the Foundation. The Company continues to make monthly investments to the Foundation, which will allow us to fund future worthy causes. The Foundation has made donations of $1.8 million through 2007, including the January 2008 allocation. The organizations receiving these allocations were selected by an employee committee. These included donations to community services; environmental foundations; health/welfare; and cultural arts.

Employees are key in helping the Foundation direct its gifts to worthy causes in specific geographic areas where Newfield operates," said Terry W. Rathert, senior vice president and chief financial officer. "I encourage you to learn more about our Foundation and just how active Newfield is in helping worthy causes. If you are involved with a charitable organization and interested in funding, be sure to bring that organization to the attention of a foundation committee member. You also can access our foundation website from the Internet.
Terry W. Rathert

Foundation Funding by Organization
Letter from Joe B. Foster
Foundation Process & Procedure
Contact NFX Foundation

Matching Gifts Program and Volunteerism: Dollars Helping Causes

Besides the Newfield Foundation, our employees can help their community through our Matching Gifts Program, which began in 1998. In 2006, Newfield matched contributions of nearly $60,000. The Company matches dollar-for-dollar up to $1,000 of total annual contributions per participant. Some of the organizations receiving contributions in 2006 included: The National MS Society; Big Brothers/Big Sisters of Greater Houston; The American Red Cross and the United Way of the Texas Gulf Coast.

Employee Volunteers

Both the Matching Gifts Program and the Newfield Foundation are supplemented by the Company’s strong employee volunteer efforts. In 2007, we estimate employees, their families and friends, contributed more than 365 volunteer days.

National Public Radio Story on Helping the Houston Homeless and Newfield’s “Got Socks?” Campaign in 2009

Team Newfield and the Multiple Sclerosis (MS) - 150

An annual event that draws employee participation from all geographic regions of the company (including riders from Newfield’s office in Kuala Lumpur, Malaysia) is the MS-150 Houston to Austin bicycle ride. In 2009, Team Newfield participants raised nearly $50,000 that included funding from the Company’s matching gifts program to help fight MS. The team had raised a similar amount the year before. Newfield Team riders regularly make the "300 Club" (top 300 contributors), and the team regularly receives a safety recognition award for the two-day, 150-mile ride.

The MS-150 bike ride has become a Newfield tradition in Houston drawing both employee riders and volunteers. This event is the society’s premier national fundraising event serving as a role model for other areas of the country. The funds raised are used to assist people afflicted with MS and provide for research to find a cure.

Newfield’s 2009 Big Brothers Big Sisters Bowlathon in Houston raised nearly $14,000 including matching gifts for BBBS and has become an annual company event.

Another example of Newfield volunteers in action includes the Houston Office, the Rocky Mountain Region and the Mid-Continent Region (Tulsa) employees building homes for Habitat for Humanity.

Mid-Continent Region

The Newfield 2008 Mid-Continent Region Habitat for Humanity house build in Tulsa, Okla.

In McAlester, Oklahoma, (near the company’s Woodford Shale play) Newfield and its area employees raised approximately $20,000 annually through chili cook-offs. The proceeds were used to better equip area volunteer firefighters and enhance emergency preparedness. The company also has donated vehicles to local emergency agencies. The Newfield Foundation is funding an area scholarship program for high school student through the McAlester Chamber of Commerce.

Mid-Continent Tulsa Employees Step Up to Fight Cancer raised more than $16,000 for the “Y-Me” Walk to Empower on Mother’s Day 2008. The Newfield team raised far more than any other in the three-mile charitable walk. The Newfield team grew to nearly 50 members walking and raising funds. Additionally, Newfield employees were among the top 10 fundraisers. “Y-Me” is a national organization which coordinates the annual fund-raising walk in 12 cities across the country.

The Newfield Tulsa office is very involved with the Big Brothers Big Sisters through the Newfield Foundation funding and employee volunteers. Newfield employees also serve on the Tulsa Area Resource Board. Newfield Exploration had record participation in the BBBS bowlathon in 2008 with 20 teams. This generated more than $20,000 in pledges and matching gift donations from more than 100 employees, their family members and friends. This represents an 83% increase over funds raised by Newfield in 2008. Area employees are also involved in a golf tournament and other special events to help fund the BBBS.

Rocky Mountain Region

The Newfield Foundation donated $20,000 in 2008 to the Denver Rescue Mission and Company employee volunteers pitched in to help organize the food pantry and prepare meals for the city’s homeless.

More than half of Newfield’s Denver office staff participated in Susan G. Komen Breast Cancer Race for the Cure. Employees raised more than $2,000 for this event.

Approximately 200 employees from Utah and Colorado participated in a Utah Highway clean up to help the environment by collecting more than 600 bags of trash and debris. Afterwards, they celebrated the event at the company’s office in Myton, Utah.

In 2008, the Denver office spin-a-thon team pedaled for donations that raised more than $10,000 (including matching gifts) for Brent’s Place. Donn and Linda Eley began The Brent Eley Foundation in 1997 as a tribute to their son, Brent, who lost his battle with cancer in 1988. Through this foundation, a housing facility was built to support families with children who have cancer and need accommodations during treatment. Brent’s Place currently serves approximately 65 families each year for extended stays. The Newfield employees meet at a local gym for a timed stationary bike ride to raise donations for this annual event.

The Newfield 2009 Rocky Mountain Region Habitat for Humanity House Build in Denver, Colo.

In the December 2009 Elves & More volunteer event in Houston to build and donate bicycles to area youth, Newfield had a team of nearly 40 volunteers participate.
“I am so happy that I volunteered for Elves & More. It was awesome on so many levels. Helping children, and especially children at risk, is my passion. I know what Newfield volunteers did will make a difference the lives of these children. Count me in for next year!”
-Maisie Moses-Bolton, Newfield

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Corporate Code Of Business Conduct And Ethics

Newfield’s management and board of directors are committed to doing business in an ethical and responsible manner.

Our employees help keep Newfield’s standards high and we want every job to be performed in a fair, honest and ethical manner.  We encourage the same performance by our vendors, customers and partners.

Newfield’s Corporate Code of Business Conduct and Ethics details the Company’s values and policies on this subject. Each employee is required to read and understand it. The complete Code of Business Conduct and Ethics and other pertinent corporate governance information can be found at: www.newfield.com/governance.aspx

Newfield’s Chairman and Chief Executive Officer David A. Trice encourages employees who become aware of any violations of the Code of Business Conduct and Ethics to bring this to the attention of his or her local management or the Corporate Human Resources Manager.

A confidential Ethics Line also was established to anonymously receive calls if a violation is perceived. We have established a toll-free Ethics Line so that investors, employees and other interested parties can anonymously report any practices thought to be in violation of our corporate governance polices. The Ethics Line also can be used to make concerns known to our non-management directors on a direct and confidential basis. The telephone number for the Ethics Line is 1-866-843-8694.

Employee Compensation

Pay for Performance

We are known for paying for performance. Employees are compensated through a combination of salary, cash bonus, deferred bonus and Newfield common stock. Our bonus pool is derived as a percentage of the Company’s net income.

Compensation is based on performance and we reward those who add value during the year. For example, if an employee discovers a significant oil or natural gas discovery, his or her pay will reflect that contribution. Performance also means conducting operations in a safe manner with regards for environmental impact of our operations.

"People" make the difference at Newfield.

Diverse experiences and skill sets among employees provide a competitive advantage in our operations. A cross section of our employees reveals backgrounds from major oil companies, small and large independents, private oil and gas companies and recent college graduates. We have an active intern and recruitment program to attract the best and brightest minds in scientific and technical fields recruited from leading colleges and universities. Employees are empowered to make decisions and capture opportunities with a focus on profitably growing reserves and production to create long-term shareholder value. Although we have grown rapidly, we work hard to preserve our culture.

Equity Ownership

Owners make the best employees. Employees own 7.3% of Newfield stock as of February 2008. We reward and encourage employees through equity ownership and incentive compensation based on performance and profitability. A significant portion of our employees' compensation is discretionary and performance-based.

Peer Review Process

Another unique attribute is the Company's Peer Review Process. Before oil and gas prospects are drilled, they are presented to Newfield's technical employees. Employees question, critique and offer suggestions based on their past experiences with similar prospects and fields. Their relative experience helps add quality to this unique process. Following the presentation, employees are able to vote on which prospects are drilled and not drilled. Essentially, they are voting their shares of Newfield stock. The high component of employee ownership makes this an effective process. Employees recommend the wells that have the best chance of adding value for Newfield shareholders.