Investor Presentaiton

SYNERGY SUMMARY High Confidence Synergies Annualized G&A Costs ($MM/yr) $225 $350 -$125 Cube Development Synergies in Anadarko 11 $1 MM/well savings x 125 net wells = ~$125 MM/year $250 ECA Newfield Synergies Pro Forma Current Well Cycle Time Cost Pad Supply Completions Well Cost Efficiencies Management Post Synergies ~ $125 MM/year in annual G&A synergies for the combined business ~$125 MM/year well cost synergies (costs down by at least $1 MM/well) encana

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