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BPI Weekly BENTEK Productivity Index

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March 10, 2010 Questions? Contact Tony at ascott@bentekenergy.com

BENTEK Productivity Index: U.S. Total

The BENTEK Productivity Index (BPI) is an index from BENTEK to help
better understand natural gas production efficiency gains in the United
States. BENTEK quantifies the current effects of improved drilling and
completion technologies along with the transfer of rigs to
unconventional plays with higher productivity to calculate the BPI. For
a basin-by-basin production analysis, please refer to BENTEK's
regional Production Monitor series.

BENTEK Productivity Index

Region Rig Count* Last Week* BPI Last Week BPI % Chg
National 1,739 1,716 2,910 2,921 -0.4%
SE/Gulf 828 804 1,356 1,355 0.1%
West 292 290 517 505 2.4%
Midcon 458 464 452 472 -4.2%
Northeast 161 158 585 589 -0.7%
* Source: RigData

BENTEK Productivity Index: Southeast/Gulf BENTEK Productivity Index: West

BENTEK Productivity Index: Midcontinent BENTEK Productivity Index: Northeast

Note: Productivity is determined by the amount of initial production that could be added to the market each year by one rig based on the orientation of the rig
(vertical, directional or horizontal) and the resource target of the rig (coalbed methane, gas or oil) of each rig -- Productivity = (30-day Initial Production Rate) x
(Wells Per Rig Per Year). BENTEK derives the annual wells per rig from actual drilling time data provided by DataWright RigData. The 30-day average production
rates are derived from actual well-level data provided by HPDI, LLC. BENTEK defines an active rig to be a rig that has commenced drilling a well (spud) until the
point at which the rig has been released from the well in order to allow completion activities.

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 TM
TM Weekly BENTEK Productivity Index
BPI March 10, 2010

DISCLAIMER: THIS REPORT IS FURNISHED ON AN “AS IS” BASIS. BENTEK DOES NOT WARRANT THE ACCURACY OR
CORRECTNESS OF THE REPORT OR THE INFORMATION CONTAINED THEREIN. BENTEK MAKES NO WARRANTY, EXPRESS OR
IMPLIED, AS TO THE USE OF ANY INFORMATION CONTAINED IN THIS REPORT IN CONNECTION WITH TRADING OF COMMODITIES,
EQUITIES, FUTURES, OPTIONS OR ANY OTHER USE. BENTEK MAKES NO EXPRESS OR IMPLIED WARRANTIES AND EXPRESSLY
DISCLAIMS ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE.
RELEASE AND LIMITATION OF LIABILITY: IN NO EVENT SHALL BENTEK BE LIABLE FOR ANY DIRECT, INDIRECT, SPECIAL,
INCIDENTAL, OR CONSEQUENTIAL DAMAGES (INCLUDING LOST PROFIT) ARISING OUT OF OR RELATED TO THE ACCURACY OR
CORRECTNESS OF THIS REPORT OR THE INFORMATION CONTAINED THEREIN, WHETHER BASED ON WARRANTY, CONTRACT,
TORT OR ANY OTHER LEGAL THEORY.

Methodological Notes:
The data in this report are derived from BENTEK Energy’s proprietary Energy Data Warehouse. BENTEK collects and monitors pipeline
nominations as posted on individual pipeline electronic bulletin boards (EBBs). BENTEK has assigned geographic and usage descriptions,
such as state, province, county, production region, customer type and connected party to more than 26,000 pipeline points. The descriptions
assigned to these pipeline data points enable users to monitor and forecast U.S. production, U.S. imports, U.S. LNG sendout, demand from
multiple sectors and storage injection and withdrawal activity.

BENTEK PRODUCTIVITY INDEX (BPI)TM: In order to quantify the effects of improved drilling and completion technologies along with the
transfer of rigs to unconventional plays with higher productivity, BENTEK has developed the BENTEK Productivity Index (BPI)TM. By
benchmarking the productivity of each operating rig in the 1Q2005, BENTEK quantified the effects of both technology and gas-resource-play
development.

BENTEK defines an active rig to be a rig that has commenced drilling a well (spud) until the point at which the rig has been released from the
well in order to allow completion activities.

The BPI is determined by a combination of rig proficiency and well productivity. BENTEK begins with data provided by RigData on how many
rigs are actively drilling in a basin or region and the average number of days it takes for those rigs to drill wells. The average number of days is
divided into 365 days per year to find an average number of wells drilled per year per rig. The wells-per-rig-per-year number is multiplied by the
30-day initial production rate for the basin or region to determine the average productivity rate for the current time period. That number is then
divided by the baseline productivity rate from 2005 to get a ratio. BENTEK then multiplies the ratio by the current rig count to estimate the BPI.
Numbers from individual basins and regions are averaged to determine a national average.

BENTEK's production projections are based on state wellhead production data provided by HPDI, LLC. Each projection starts from the last
completed dataset and then projects production into the future using type-curves for each basin based on drilling orientation and resource
target.

BENTEK does not assume a base decline rate. Production is forecasted on a well-by-well basis based on the current producing age of each
well and where production from that well is on its current decline curve. Well counts are assumed to be flat from the previous month's drilling
level, except where noted due to basins with an inventory of wells that are awaiting pipeline expansions and/or completions.

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