Corporates www.fitchratings.com January 13, 2011 Summary Fitch Ratings’ “U.S. Oil & Gas Stats Quarterly” provides a summary of the industry’s financial and operating performance and key credit metrics over the past three years and LTM. In addition, an overview of the liquidity position of each company is included. Updates this quarter included expanded coverage for new rated and non-rated companies, in addition to expanded coverage of operating metrics for the upstream firms covered in the report. Fitch will continue to expand the report in coming quarters, including coverage of additional non-rated names and expanded coverage of operating metrics. On Dec. 16, 2010, Fitch published 2011 industry outlooks for the North American Oil and Gas Exploration and Production sector, the Global Drilling and Oilfield Services sector, and the North American Refining sector, providing an overview of industry conditions and key credit trends affecting companies in the associated sectors. Energy U.S. and Canada Special Report U.S. Oil & Gas Stats Quarterly — Third Quarter 2010 Analysts Adam M. Miller +1 312 368-3113 adam.miller@fitchratings.com Sean T. Sexton, CFA +1 312 368-3130 sean.sexton@fitchratings.com Mark C. Sadeghian, CFA +1 312 368-2090 mark.sadeghian@fitchratings.com Daniel Harris +1 312 368-3217 daniel.harris@fitchratings.com Related Research • 2011 Outlook: North American Oil & Gas Exploration and Production, Dec. 16, 2010 • 2011 Outlook: Global Drilling and Oilfield Services, Dec. 16, 2010 • 2011 Outlook: North American Refining, Dec. 16, 2010 • Deepwater Drilling Halt: Upstream Impacts, June 11, 2010 • Deepwater Drilling Halt: Early Indications of Financial Impacts ⎯ Amended, June 1, 2010 • Rating Oil & Gas Exploration and Production Companies: Sector Credit Factors, April 7, 2010 U.S. Oil & Gas Ratings Company Name IDR Outlook/Watch Page Company Name IDR Outlook/Watch Page Integrated Refining & Marketing Chevron Corporation AA Stable 5 Alon USA Energy Inc. NR ⎯ 10 ConocoPhillips A Stable 5 Sunoco, Inc. BBB− Negative 11 ExxonMobil Corporation AAA Stable 5 Tesoro Corporation BB Stable 11 Marathon Oil Corporation BBB+ Stable 6 Valero Energy Corporation BBB Negative 11 Western Refining Inc NR ⎯ 12 Exploration & Production Anadarko Petroleum Corp. BBB− Negative 6 Drilling & Oil Field Services Apache Corporation A− Negative 6 Baker Hughes Inc. NR ⎯ 12 Chesapeake Energy Corp. BB Stable 7 Halliburton Company A− Stable 12 Denbury Resources Incorporated NR ⎯ 7 Hercules Offshore Inc. NR ⎯ 13 Devon Energy Corporation BBB+ Stable 7 Nabors Industries, Inc. BBB+ Negative 13 Energy XXI (Bermuda) Limited B Stable 8 Noble Corporation A− Stable 13 Hess Corporation BBB Stable 8 Pride International Inc. BB+ Stable 14 Newfield Exploration Company BB+ Stable 8 Schlumberger NR ⎯ 14 Occidental Petroleum Corp. A Stable 9 Seacor Holdings, Inc. BBB− Stable 14 Petrohawk Energy Corp. NR ⎯ 9 Tetra Technologies Inc NR ⎯ 15 Pioneer Natural Resources Co. BB+ Stable 9 Transocean Inc. BBB Negative 15 Plains Exploration & Production Co. NR ⎯ 10 SandRidge Energy Inc. NR ⎯ 10 Energy Investment Holding Companies Loews Corporation A Positive 15 NR − Not rated. Source: Fitch Ratings. Corporates 2 U.S. Oil & Gas Stats Quarterly — Third Quarter 2010 January 13, 2011 U.S. Oil & Gas Financial Profile Summary ⎯ Investment Grade ($ Mil., For LTM Ended Sept. 30, 2010) Integrated Exploration and Production Refining and Marketing Drilling and Oil Field Services Chevron Corp. Conoco Phillips ExxonMobil Corp. Marathon Oil Corp. Anadarko Petroleum Corp. Apache Corp. Devon Energy Corp. Hess Corp. Occidental Petroleum Corp. Sunoco Inc. Valero Energy Corp. Baker Hughes Inc. Halliburton Company Nabors Industries Inc. Noble Corp. Schlum-berger Seacor Holdings Inc. Transocean Inc. Rating (IDR) AA A AAA BBB+ BBB− A− BBB+ BBB A BBB− BBB NR A− BBB+ A− NR BBB− BBB Outlook/Wa