Newfield Prices Common Stock Offering

Newfield Exploration Company (NYSE: NFX) has priced a public offering of 4,700,000 shares of its common stock at $52.85 per share. All shares are being sold by Newfield. Newfield also has granted the underwriters a 30-day option to purchase up to 705,000 additional shares of its common stock to cover over-allotments, if any.

Newfield expects the issuance and delivery of the shares to occur on August 18, 2004, subject to satisfaction of customary closing conditions. Newfield intends to use the net proceeds of the offering to partially fund its recently announced and pending acquisition of Inland Resources Inc.

Morgan Stanley & Co. Incorporated is acting as sole book-running manager for the offering.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there by any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state.