1

Williams Current Drilling and Producing Operations

Currently have 25 drilling rigs operating in Garfield and Rio Blanco Counties. 18 in Valley and 7 in Highlands.

Drilling at depths ranging from 5,400’ in Grand Valley field in Garfield County to 10,000’ in Ryan Gulch in Rio Blanco County.

2-6 wells per pad on conventional rigs and up to 10 to 22 wells/pad on new HP/SSD rigs, all are directional.

Currently over 2250 wells producing 760 MMCFD (715 MMCFD from the valley and 45 MMCFD from Highlands) which provides energy (heat) to over 2,700,000 homes.

NW CO Forum 6/5/08

2

Piceance Drilling and Plant Update

Plan for 2008 is to drill over 500 wells in Garfield and Rio Blanco Counties. Plan for 2009 is identical to 2008.

All ten new H&P Flex 4 rigs are currently operating. Conducting SIMOPS on all HP pads. 4 Nabors High efficiency Super Sundowner Rigs are operating. 60% of rig fleet are these high efficiency rigs.

Expanding new Parachute Creek Plant III facility to over 1 BCF processing capacity which should be complete in during the summer of 2008.

Williams Midstream is looking to construct the Willow Creek Cryogenic Plant by 2009 in Rio Blanco County.

NW CO Forum 6/5/08

3

25 Rigs Operating in the Piceance Basin

Williams position

Williams position

Grand Valley FieldGrand Valley Field

Parachute FieldParachute Field

Rulison FieldRulison Field

20 miles20 miles20 miles20 miles

• 24th Year of Development 115,000 Net Acres• The largest natural gas producer in Piceance Basin• 760 MMcfd Gross Operated Production• Operate 2250 wells • Operate 250+ miles of gathering and 4 gas plants• Access to 5 major interstate/intrastate pipelines• Currently 25 drilling rigs operating

• 24th Year of Development 115,000 Net Acres• The largest natural gas producer in Piceance Basin• 760 MMcfd Gross Operated Production• Operate 2250 wells • Operate 250+ miles of gathering and 4 gas plants• Access to 5 major interstate/intrastate pipelines• Currently 25 drilling rigs operating

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AAADrilling Rigs (blue is new

HP &

Green is Nabors SD new rigs)

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Allen Point

ARyan Gulch/

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ARed Point

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Exploration & Production

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Trail Ridge

4

Community

Williams employees participated in a VOC (Volunteers for Outdoor Colorado) project this past April at Cameo to remove tamarisk along the river.

Williams employees helped build a fence around playground equipment for Kids Promise Daycare in Parachute during Memorial day weekend.

Williams employees are helping raise funds in Parachute by holding garage sales for Relay for Life to be held in later June.

Williams’ Donna Gray will be co-chairing Garfield County’s United Way campaign.