EX-4.11





 Exhibit 4.11 

NEWFIELD EXPLORATION COMPANY 

GUARANTEE 
 THIS
GUARANTEE is made as of March 1, 2019 
 WHEREAS the Guarantor is a Subsidiary of the Borrower; 

AND WHEREAS the Guarantor has agreed to provide a guarantee with respect to the Credit Facility provided by the Lenders pursuant to the
Credit Agreement; 
 NOW THEREFORE, in consideration of the covenants and agreements herein contained, and other good and valuable
consideration (the receipt and sufficiency of which are hereby conclusively acknowledged), the Guarantor hereby covenants and agrees with the Beneficiaries as follows: 

ARTICLE 1- INTERPRETATION 

 

	1.1	 Definitions 


  

	 	(a)	 In this Guarantee and the recitals hereto, unless something in the subject matter or context is inconsistent
therewith: 


 “Beneficiaries” means, collectively, the Lenders and the Agent, and “Beneficiary” means
any of the foregoing. 
 “Beneficiaries’ Counsel” means the firm of Norton Rose Fulbright Canada LLP or such other firm of legal
counsel as the Agent may from time to time designate in accordance with the Credit Agreement. 
 “Borrower” means Encana Corporation and
its successors. 
 “Credit Agreement” means the restated credit agreement made as of July 16, 2015, as amended by a first amending
agreement made as of March 28, 2018, between the Borrower, as borrower, Royal Bank of Canada and such other persons as become parties thereto, as lenders, and Royal Bank of Canada as agent of such lenders, as the same may be further amended,
modified, supplemented or restated from time to time in accordance with the provisions thereof. 
 “Default Rate” means a rate per annum
that is equal to (i) in respect of amounts due in Canadian Dollars, the rate of interest then payable under the Credit Agreement on Prime Loans plus 1.0% per annum or (ii) in respect of amounts due in US Dollars, the rate of interest then
payable under the Credit Agreement on USBR Loans plus 1.0% per annum. 
 “Guarantee” means this guarantee, as amended, modified,
supplemented or restated from time to time in accordance with the provisions hereof. 
 “Guarantor” means Newfield Exploration Company and
its successors. 
 “Obligations” means, collectively and at any time and from time to time, all of the obligations, indebtedness and
liabilities (present or future, absolute or contingent, matured or not) of the Borrower to the Agent and the Lenders under, pursuant or relating to the Credit Agreement and the other Loan Documents (other than this Guarantee) and including all
Outstandings and all interest, commissions, legal and other costs, charges and expenses payable by the Borrower under the Credit Agreement and such other Loan Documents, whether the same are from time to time reduced and thereafter increased or
entirely extinguished and thereafter incurred again. 
  

	 	(b)	 Capitalized words and phrases used in this Guarantee and the recitals hereto without express definition herein
shall, unless something in the subject matter or context is inconsistent therewith, have the same defined meanings as are ascribed to such words and phrases in the Credit Agreement. For certainty, if the Credit Agreement ceases to be in force for
any reason whatsoever, then for all purposes hereof the aforementioned capitalized words and phrases shall continue to have the same defined meanings set forth in the Credit Agreement as if such agreement remained in force in the form immediately
prior to its ceasing to be in force. 















	1.2	 Headings 



The division of this Guarantee into Articles and Sections and the insertion of headings are for convenience of reference only and shall not
affect the construction or interpretation of this Guarantee. The terms “this Guarantee”, “hereof, “hereunder” and similar expressions refer to this Guarantee and not to any particular Article, Section or other portion hereof
and include any agreement supplemental hereto. Unless something in the subject matter or context is inconsistent therewith, references herein to Articles and Sections are to Articles and Sections of this Guarantee. 

 

	1.3	 Number; persons; including 



Words importing the singular number only shall include the plural and vice versa, words importing the masculine gender shall include the
feminine and neuter genders and vice versa and words importing persons shall include individuals, partnerships, associations, trusts, unincorporated organizations and corporations and vice versa and words and terms denoting inclusiveness (such as
“include” or “includes” or “including”), whether or not so stated, are not limited by their context or by the words or phrases which precede or succeed them. 

 

	1.4	 Interest Act (Canada) 



 

	 	(a)	 Whenever a rate of interest hereunder is calculated on the basis of a year (the “deemed year”) which
contains fewer days than the actual number of days in the calendar year of calculation, such rate of interest shall be expressed as a yearly rate for the purposes of the Interest Act (Canada) by multiplying such rate of interest by the actual
number of days in the calendar year of calculation and dividing it by the number of days in the deemed year. 


  

	 	(b)	 THE GUARANTOR ACKNOWLEDGES AND CONFIRMS THAT: (A) THE CREDIT AGREEMENT, INCLUDING ARTICLE
5 THEREOF AND THE CONSTITUENT DEFINITIONS THEREIN AND UNDER THIS GUARANTEE AND THE OTHER LOAN DOCUMENTS RELATING TO INTEREST AND OTHER AMOUNTS PAYABLE HEREUNDER AND THEREUNDER, SATISFIES THE REQUIREMENTS OF SECTION 4 OF THE INTEREST
ACT (CANADA) TO THE EXTENT THAT SUCH SECTION 4 OF THE INTEREST ACT (CANADA) APPLIES TO THE EXPRESSION, STATEMENT OR CALCULATION OF ANY RATE OF INTEREST OR OTHER RATE PER ANNUM HEREUNDER OR UNDER ANY OTHER LOAN
DOCUMENT; AND (B) THE GUARANTOR IS ABLE TO CALCULATE THE YEARLY RATE OR PERCENTAGE OF INTEREST PAYABLE UNDER ANY LOAN DOCUMENT BASED ON THE METHODOLOGY SET OUT HEREIN AND UNDER THE OTHER LOAN DOCUMENTS, INCLUDING ARTICLE 5 OF THE
CREDIT AGREEMENT AND THE CONSTITUENT DEFINITIONS THEREIN AND UNDER THIS GUARANTEE AND THE OTHER LOAN DOCUMENTS RELATING TO INTEREST AND OTHER AMOUNTS PAYABLE HEREUNDER AND THEREUNDER. 



 

	 	(c)	 THE GUARANTOR HEREBY IRREVOCABLY AGREES NOT TO PLEAD OR ASSERT, WHETHER BY WAY OF DEFENCE OR OTHERWISE, IN
ANY PROCEEDING RELATING TO THE LOAN DOCUMENTS, THAT THE INTEREST PAYABLE UNDER THE LOAN DOCUMENTS AND THE CALCULATION THEREOF HAS NOT BEEN ADEQUATELY DISCLOSED TO THE BORROWER, ANY SUBSIDIARY OR THE GUARANTOR, WHETHER PURSUANT TO SECTION 4 OF THE
INTEREST ACT (CANADA), OR ANY OTHER APPLICABLE LAW OR LEGAL PRINCIPLE. 


  

	1.5	 Nominal Rates 



The principle of deemed reinvestment of interest shall not apply to any interest calculation under this Guarantee; all interest payments to be
made hereunder shall be paid without allowance or deduction for deemed reinvestment or otherwise, before and after demand, default and judgment. The rates of interest specified in this Guarantee are intended to be nominal rates and not effective
rates and any interest calculated hereunder shall be calculated using the nominal rate method and not the effective rate method of calculation. 












 ARTICLE 2 – GUARANTEE 

 

	2.1	 Guarantee of Obligations 



The Guarantor hereby unconditionally and irrevocably guarantees to the Beneficiaries the payment and performance of all of the Obligations,
together with interest thereon as provided in Section 5.4. 
  

	2.2	 Indemnity 



If any or all of the Obligations are not duly paid or performed by the Borrower or any Subsidiary, as applicable, and are not recoverable under
Section 2.1 for any reason whatsoever, the Guarantor will, as a separate and distinct obligation, indemnify and save harmless the Beneficiaries from and against all losses resulting from the failure of the Borrower or such Subsidiary to pay and
perform such Obligations. 
  

	2.3	 Guarantor as Principal Obligor 



If any or all of the Obligations are not duly paid or performed by the Borrower or any Subsidiary, as applicable, and are not recoverable under
Section 2.1 or the Beneficiaries are not indemnified under Section 2.2, in each case, for any reason whatsoever, such Obligations shall, as a separate and distinct obligation, be recoverable by the Beneficiaries from the Guarantor as the
primary obligor and principal debtor in respect thereof and shall be paid to the Beneficiaries forthwith after demand therefor as provided herein. 
  

	2.4	 Guarantee Absolute and Unconditional 



The liability and obligations of the Guarantor hereunder shall be continuing, unconditional and absolute and, without limiting the generality
of the foregoing, shall not be released, discharged, limited or otherwise affected by: 
  

	 	(a)	 any extension, other indulgence, renewal, settlement, discharge, compromise, waiver, subordination or release
in respect of any Obligation, security, person or otherwise, including any extension, other indulgence, renewal, settlement, discharge, compromise, waiver, subordination or release of any of the Obligations, covenants or undertakings of the Borrower
and its Subsidiaries under the Loan Documents; 


  

	 	(b)	 any modification or amendment of or supplement to the Obligations; 



 

	 	(c)	 any loss of or in respect of any security held by or on behalf of the Beneficiaries, whether occasioned by the
fault of the Beneficiaries or otherwise, including any release, non-perfection or invalidity of any such security; 


  

	 	(d)	 any change in the existence, structure, constitution, name, control or ownership of the Borrower, any
Subsidiary or any other person, or any insolvency, bankruptcy, reorganization or other similar proceeding affecting the Borrower, any Subsidiary or any other person or their respective assets; 



 

	 	(e)	 the existence of any set-off, counterclaim, claim or other right which
the Guarantor, the Borrower or any Subsidiary may have at any time against the Beneficiaries or any other person, whether in connection with the Credit Agreement, this Guarantee, any other Loan Document or any unrelated transaction;



  

	 	(f)	 any provision of Applicable Law purporting to prohibit or limit the payment by the Borrower or any Subsidiary,
as applicable, of any Obligation, and the foregoing is hereby waived by the Guarantor to the extent permitted under Applicable Law; 


  

	 	(g)	 any limitation, postponement, prohibition, subordination or other restriction on the right of a Beneficiary or
any other person on behalf of a Beneficiary to payment of the Obligations; 


  

	 	(h)	 any release, substitution or addition of any other guarantor of the Obligations; 















	 	(i)	 any defence arising by reason of any failure of any Beneficiary or any other person on a Beneficiary’s
behalf to make any presentment, demand, or protest or to give any other notice, including notice of all of the following: acceptance of this Guarantee, partial payment or nonpayment of all or any part of the Obligations and the existence, creation,
or incurring of new or additional Obligations; 


  

	 	(j)	 any defence arising by reason of any failure of a Beneficiary or any other person on behalf of a Beneficiary to
proceed against the Borrower, any Subsidiary or any other person, or to apply or exhaust any security held from the Borrower, any Subsidiary or any other person for the Obligations, to proceed against, apply or exhaust any security held from the
Guarantor or any other person, or to pursue any other remedy available to the Beneficiaries or any other person on behalf of the Beneficiaries; 


  

	 	(k)	 any defence arising by reason of the invalidity, illegality or lack of enforceability of the Obligations or any
part thereof or of any security or guarantee in support thereof, or by reason of any incapacity, lack of authority, or other defence of the Borrower, any Subsidiary or any other person, or by reason of any limitation, postponement or prohibition on
a Beneficiary’s or other person on behalf of a Beneficiary’s rights to payment, or the cessation from any cause whatsoever of the liability of the Borrower, any Subsidiary or any other person with respect to all or any part of the
Obligations (other than irrevocable payment to the Beneficiaries in full, in cash, of the Obligations), or by reason of any act or omission of the Beneficiaries or others which directly or indirectly results in the discharge or release of the
Borrower, any Subsidiary or any other person or of all or any part of the Obligations or any security or guarantee therefor, whether by contract, operation of law or otherwise; 



 

	 	(l)	 any defence arising by reason of the failure by a Beneficiary or any other person on behalf of a Beneficiary to
obtain, register, perfect or maintain any security in or upon any property of the Borrower, any Subsidiary or any other person, or by reason of any interest of the Beneficiaries or any other person on behalf of the Beneficiaries in any property,
whether as owner thereof or as holder of security therein or thereon, being invalidated, voided, declared fraudulent or preferential or otherwise set aside, or by reason of any impairment of any right or recourse to collateral;



  

	 	(m)	 any defence arising by reason of the failure of the Beneficiaries or any other person on behalf of the
Beneficiaries to marshal assets; 


  

	 	(n)	 to the extent permitted under Applicable Law, any defence based upon any failure of the Beneficiaries or any
other person on behalf of the Beneficiaries to give to the Borrower, any Subsidiary or the Guarantor notice of any sale or other disposition of any property securing any or all of the Obligations or any other guarantee thereof, or any notice that
may be given in connection with any sale or other disposition of any such property; 


  

	 	(o)	 any defence based upon or arising out of any bankruptcy, insolvency, reorganization, moratorium, arrangement,
readjustment of debt, liquidation or dissolution proceeding commenced by or against the Borrower, any Subsidiary or any other person, including any discharge or bar against collection of any of the Obligations; or 



 

	 	(p)	 any other law, event or circumstance or any other act or failure to act or delay of any kind by the Borrower,
any Subsidiary, the Beneficiaries or any other person, which might, but for the provisions of this Section, constitute a legal or equitable defence to or discharge, limitation or reduction of the Guarantor’s obligations hereunder, other than as
a result of the payment or extinguishment in full of the Obligations. 


 The foregoing provisions apply and the foregoing waivers, to the
extent permitted under Applicable Law, shall be effective even if the effect of any action or failure to take action by the Beneficiaries or any other person on behalf of the Beneficiaries is to destroy or diminish the Guarantor’s subrogation
rights, the Guarantor’s right to proceed against the Borrower or any Subsidiary for reimbursement, the Guarantor’s right to recover contribution from any other guarantor or any other right or remedy of the Guarantor. 












 ARTICLE 3 – DEALINGS WITH THE BORROWER, THE SUBSIDIARIES AND OTHERS 

 

	3.1	 No Release 



The Beneficiaries, without releasing, discharging, limiting or otherwise affecting in whole or in part the Guarantor’s liability and
obligations hereunder, may: 
  

	 	(a)	 grant time, renewals, extensions, indulgences, releases and discharges to the Borrower, any Subsidiary or any
other guarantor or endorser; 


  

	 	(b)	 take or abstain from taking security or collateral from the Borrower, any Subsidiary or any other guarantor or
endorser or from perfecting security or collateral of the Borrower, any Subsidiary or any other guarantor or endorser; 


  

	 	(c)	 accept compromises from the Borrower, any Subsidiary or any other guarantor or endorser; 



 

	 	(d)	 subject to the Credit Agreement and the other Loan Documents, apply all money at any time received from the
Borrower or any Subsidiary or from security upon such part of the Obligations as the Beneficiaries may see fit or change any such application in whole or in part from time to time as the Beneficiaries may see fit; or 



 

	 	(e)	 otherwise deal with the Borrower, any Subsidiary and all other persons and security as the Beneficiaries may
see fit. 


  

	3.2	 No Exhaustion of Remedies 



The Beneficiaries shall not be bound or obligated to exhaust their recourse against the Borrower, any Subsidiary or other persons or any
securities or collateral it may hold or take any other action (other than to make demand pursuant to Article 5) before the Beneficiaries shall be entitled to demand, enforce and collect payment from the Guarantor hereunder. 

 

	3.3	 Evidence of Obligations 



Any account settled or stated in writing by or between a Beneficiary or the Beneficiaries, as the case may be, and the Borrower or any
Subsidiary, as applicable, shall be prima facie evidence that the balance or amount thereof appearing due to the same is so due. 
  

	3.4	 No Set-off 



In any claim by the Beneficiaries against the Guarantor hereunder, the Guarantor shall not claim or assert any
set-off, counterclaim, claim or other right that any of the Borrower, any Subsidiary or the Guarantor may have against one or more of the Beneficiaries. 

ARTICLE 4 – TERM OF GUARANTEE 
  

	4.1	 Continuing Guarantee 



This Guarantee shall be a continuing guarantee and shall continue to be effective even if at any time any payment of any of the Obligations is
rendered unenforceable or is rescinded or must otherwise be returned by any Beneficiary for any reason whatsoever (including the insolvency, bankruptcy or reorganization of the Borrower or any Subsidiary, as applicable), all as though such payment
had not been made. 
  

	4.2	 Revival of Indebtedness 



If at any time, all or any part of any payment previously received by a Beneficiary and applied to any Obligation must be rescinded or returned
by such Beneficiary for any reason whatsoever (including the insolvency, bankruptcy or reorganization of the Borrower or any Subsidiary, as applicable), such Obligation shall, for the purpose of this Guarantee, to the extent that such payment must
be rescinded or returned, be deemed to have continued in existence, notwithstanding such application by such Beneficiary, and this Guarantee shall continue to be effective or be reinstated, as the case may be, as to such Obligation as though such
application by such Beneficiary had not been made. 













	4.3	 Release of Guarantee 



If the Guarantor is released from its guarantee of the due and punctual payment of the principal of, premium, if any, and interest on the
Borrower’s (i) 6.50% notes due May 15, 2019, (ii) 3.90% notes due November 15, 2021, (iii) 8.125% notes due September 15, 2030, (iv) 7.20% notes due November 1, 2031, (v) 7.375% notes due November 1, 2031, (vi) 6.50%
notes due August 15, 2034, (vii) 6.625% notes due August 15, 2037, (viii) 6.50% notes due February 1, 2038, and (ix) 5.15% notes due November 15, 2041 (other than as a result of any payment being made under such guarantee), then,
upon the request of the Borrower or the Guarantor for the release of this Guarantee and provided that no Default or Event of Default has occurred and is continuing or would result from such release, this Guarantee shall also be released (and the
Agent shall promptly execute such documents and instruments as the Borrower or the Guarantor may reasonably request to evidence such release). 

ARTICLE 5 – DEMAND FOR PAYMENT, EXPENSES AND INTEREST 
  

	5.1	 Demand for Payment 



The Beneficiaries shall be entitled to make demand upon the Guarantor at any time during the continuance of an Event of Default and upon any
such demand the Beneficiaries may treat all Obligations as due and payable and may forthwith collect from the Guarantor all Obligations. The Guarantor shall make payment to or performance in favour of the Beneficiaries of all Obligations forthwith
after demand therefor is made upon the Guarantor by the Beneficiaries as aforesaid. 
  

	5.2	 Stay of Acceleration 



If acceleration of the time for payment of any amount payable by the Borrower or any Subsidiary, as applicable, in respect of the Obligations
is stayed upon the insolvency, bankruptcy, arrangement or reorganization of the Borrower or such Subsidiary or any moratorium affecting the payment of the Obligations, all such amounts that would otherwise be subject to acceleration shall
nonetheless be payable by the Guarantor hereunder forthwith on demand by the Beneficiaries. 
  

	5.3	 Expenses 



The Guarantor shall pay to the Beneficiaries all reasonable out of pocket costs and expenses, including all reasonable legal fees (on a
solicitor and his own client basis) and other expenses incurred by the Beneficiaries from time to time in the enforcement, realization and collection of or in respect of this Guarantee. All such amounts shall be payable by the Guarantor on demand by
the Beneficiaries. 
  

	5.4	 Interest 



Any payment obligation comprised in the Obligations guaranteed hereunder which is not paid when due hereunder shall bear interest, to the
extent not already included in the Obligations, both before and after default or judgment, from the date of demand pursuant to Section 5.1 to the date of payment at the rate or rates provided in the relevant Loan Document for such Obligations
or, in the event no such rate is provided for therein, at a rate per annum that is equal to the Default Rate. Any other amounts payable pursuant hereto, including pursuant to Section 5.3, which are not paid when due hereunder shall bear
interest, both before and after default or judgment, from the date of demand pursuant to Section 5.1 to the date of payment or reimbursement thereof by the Guarantor at a rate per annum that is equal to the Default Rate. All such interest shall
accrue daily and shall be payable by the Guarantor on demand by the Beneficiaries. 
 ARTICLE 6 – SUBROGATION 

 

	6.1	 Subrogation 


  

	 	(a)	 Until all Obligations have been irrevocably paid in full in cash, the Guarantor shall have no right of
subrogation to, and waives to the fullest extent permitted by Applicable Law, any right to enforce any remedy which the Beneficiaries now have or may hereafter have against the Borrower or any Subsidiary, as applicable, in respect of the
Obligations, and until such time the Guarantor waives any benefit of, and any right to participate in, any security, now or hereafter held by the Beneficiaries for the Obligations. 















	 	(b)	 If (i) the Guarantor performs or makes payment to the Beneficiaries of all amounts owing by the Guarantor
under this Guarantee, and (ii) the Obligations are performed and irrevocably paid in full then the Beneficiaries will, at the Guarantor’s request, execute and deliver to the Guarantor appropriate documents, without recourse and without
representation and warranty, necessary to evidence the transfer by subrogation to the Guarantor of the Beneficiaries’ interest in the Obligations and any security held therefor resulting from such performance or payment by the Guarantor.



 ARTICLE 7 – REPRESENTATIONS AND WARRANTIES; COVENANTS 

 

	7.1	 Representations and Warranties 



The Guarantor represents and warrants as follows to each of the Beneficiaries and acknowledges and confirms that each of the Beneficiaries is
relying upon such representations and warranties: 
  

	 	(a)	 Status and Authority 



It is a corporation duly incorporated and existing under the laws of Delaware and has all authority, capacity and powers and all
material Governmental Authorizations required to carry on its business as now conducted. 
  

	 	(b)	 Valid Authorization 



The execution, delivery and performance by the Guarantor of this Guarantee (i) is within the Guarantor’s authority, capacity and
power, (ii) has been duly authorized by all necessary corporate and other action, (iii) requires no Governmental Authorization or action by or in respect of, or filing with, any Governmental Authority, and (iv) does not contravene or
constitute a default under any provision of Applicable Law, or any agreement or any judgment, injunction, order, decree or other instrument binding upon the Guarantor or result in the creation or imposition of any security on any asset of the
Guarantor or any of its Subsidiaries. 
  

	 	(c)	 Enforceability of Guarantee 



This Guarantee constitutes a valid and legally binding obligation of the Guarantor, enforceable against the Guarantor in accordance with its
terms subject to applicable bankruptcy, insolvency and other laws of general application limiting the enforceability of creditors’ rights and to the fact that equitable remedies are only available in the discretion of the court. 

 

	 	(d)	 Interest Act (Canada-)
Representations and Warranties 


  

	 	(i)	 This Guarantee, including Section 1.4 hereof, the Credit Agreement, including Article 5 thereof, and the
constituent definitions herein and under the other Loan Documents relating to interest and other amounts payable hereunder and thereunder, satisfies the requirements of section 4 of the Interest Act (Canada) to the extent that such section 4
of the Interest Act (Canada) applies to the expression, statement or calculation of any rate of interest or other rate per annum hereunder or under any other Loan Document. 



 

	 	(ii)	 The Guarantor is able to calculate the yearly rate or percentage of interest payable under any Loan Document
based on the methodology set out herein and under the other Loan Documents, including Section 1.4 hereof, Article 5 of the Credit Agreement and the constituent definitions herein and under the other Loan Documents relating to interest and other
amounts payable hereunder and thereunder. 















	7.2	 Effective Time of Repetition 



All representations and warranties, when repeated or deemed to be repeated hereunder, shall be construed with reference to the facts and
circumstances existing at the time of repetition, unless they are stated herein to be made as at the date hereof. 
  

	7.3	 Nature of Representations and Warranties 



The representations and warranties set out in this Guarantee or deemed to be made pursuant hereto shall survive the execution and delivery of
this Guarantee notwithstanding any investigations or examinations which may be made by the Beneficiaries or Beneficiaries’ Counsel. Such representations and warranties shall survive until this Guarantee has been terminated. 

 

	7.4	 Covenants Contained in the Credit Agreement and Other Loan Documents 



The Guarantor hereby covenants and agrees with the Beneficiaries that the Guarantor shall observe, perform and comply with any and all of the
covenants of the Borrower and its Subsidiaries contained in the Credit Agreement or other Loan Documents that the Borrower or such other Subsidiary agrees that the Guarantor (as a Subsidiary or otherwise) shall observe, perform and comply with. 

ARTICLE 8 – [RESERVED] 

ARTICLE 9 – GENERAL 
  

	9.1	 Waiver of Notices 



The Guarantor hereby waives promptness, diligence, presentment, demand of payment, notice of acceptance and any other notice with respect to
this Guarantee and the obligations guaranteed hereunder, except for the demand pursuant to Section 5.1. 
  

	9.2	 Benefit of the Guarantee 



This Guarantee shall enure to the benefit of the respective successors and permitted assigns of the Beneficiaries and be binding upon the
successors of the Guarantor. 
  

	9.3	 Foreign Currency Obligations 



The Guarantor shall make payment relative to each Obligation in the currency (the “original currency”) in which the Borrower
or any Subsidiary, as applicable, is required to pay such Obligation. If the Guarantor makes payment relative to any Obligation to the Beneficiaries in a currency (the “other currency”) other than the original currency (whether voluntarily
or pursuant to an order or judgment of a court or tribunal of any jurisdiction), such payment shall constitute a discharge of the liability of the Guarantor hereunder in respect of such Obligation only to the extent of the amount of the original
currency which the Beneficiaries are able to purchase with the amount of other currency they receive on the date of receipt in accordance with normal practice. If the amount of the original currency which the Beneficiaries are able to purchase is
less than the amount of such currency originally due in respect of the relevant Obligation, the Guarantor shall indemnify and save the Beneficiaries harmless from and against any loss or damage arising as a result of such deficiency. This indemnity
shall constitute an obligation separate and independent from the other obligations contained in this Guarantee, shall give rise to a separate and independent cause of action, shall apply irrespective of any indulgence granted by the Beneficiaries
and shall continue in full force and effect notwithstanding any judgment or order in respect of any amount due hereunder or under any judgment or order. A certificate of a Beneficiary as to any such loss or damage shall constitute prima facie
evidence thereof, in the absence of manifest error. 
  

	9.4	 Payment Net of Withholding Taxes 



Except as permitted by Section 6.3 of the Credit Agreement, the Guarantor shall make all payments required hereunder, whether by way of
principal, interest or otherwise, without withholding any Taxes except as permitted by Section 6.3 of the Credit Agreement. If the Guarantor is required by law to deduct any withholding Taxes from or in respect of any amounts payable under this
Guarantee, the provisions of Section 6.3 of the Credit Agreement shall apply, mutatis mutandis. 













	9.5	 No Waiver; Remedies 



No failure on the part of the Beneficiaries to exercise, and no delay in exercising, any right hereunder shall operate as a waiver thereof, nor
shall any single or partial exercise of any right hereunder preclude the other or further exercise thereof or the exercise of any other right. The remedies herein provided are cumulative and not exclusive of any remedies provided by law. 

 

	9.6	 Severability 



If any provision of this Guarantee is determined to be invalid or unenforceable in whole or in part, such invalidity or unenforceability shall
attach only to such provision or part thereof and the remaining part of such provision and all other provisions hereof shall continue in full force and effect. To the extent permitted by applicable law the Guarantor hereby waives any provision of
law that renders any provision hereof prohibited or unenforceable in any respect. 
  

	9.7	 Amendments and Waivers 



Any provision of this Guarantee may be amended, waived or a consent given in respect thereof with the concurrence of the Guarantor and the
Agent on behalf of the Beneficiaries. Any waiver and any consent by the Agent on behalf of the Beneficiaries under any provision of this Guarantee must be in writing signed by the Agent and may be given subject to any conditions thought fit by the
Agent. Any waiver or consent shall be effective only in the instance and for the purpose for which it is given. 
  

	9.8	 Additional Guarantees 



This Guarantee is in addition and without prejudice to any other guarantees now or hereafter held by the Beneficiaries or any person on behalf
of the Beneficiaries and any other rights or remedies they might have. 
  

	9.9	 Notices 



Any demand, notice or other communication (hereinafter in this Section referred to as a “Communication”) to be given in
connection with this Guarantee shall be given in writing and may be given by personal delivery, facsimile or by registered mail addressed to the recipient as follows: 

To the Agent on behalf of the Beneficiaries as follows: 

Royal Bank of Canada, as Agent 
 4th Floor, 20 King Street West 
 Toronto, Ontario M5H 1C4 

Attention:         Manager, Agency Services Group 

Facsimile No.: (416) 842-4023 

To the Guarantor: 
 Newfield
Exploration Company 
 c/o Encana Corporation 

500 Centre Street S.E. 
 P.O. Box
2850 
 Calgary, Alberta T2P 25S 

Attention: Treasury Department 

Facsimile: (403) 645-4613 

or such other address or electronic communication number as may be designated by notice by any party to the other. Any Communication given by personal
delivery or facsimile transmission shall be conclusively deemed to have been given on the day of actual delivery or transmittal thereof and, if given by registered mail, on the third day following the deposit thereof in the mail. If the party giving
any Communication knows or ought reasonably to know of any difficulties with the postal system which might affect the delivery of mail, any such Communication shall not be mailed but shall be given by personal delivery or facsimile transmission.














	9.10	 Assignment 



The rights of the Beneficiaries under this Guarantee may be assigned by the Beneficiaries in accordance with the provisions of the Credit
Agreement and without the consent of the Borrower, its Subsidiaries or the Guarantor during the continuance of an Event of Default and, at all other times, with the prior written consent of the Guarantor (such consent not to be unreasonably
withheld). Subject to Section 10.2(o) of the Credit Agreement, the Guarantor may not assign its obligations under this Guarantee without the prior written consent of the Agent (which consent may be withheld in its sole discretion). 

 

	9.11	 Time of Essence 



Time is of the essence with respect to this Guarantee and the time for performance of the obligations of the Guarantor under this Guarantee may
be strictly enforced by the Beneficiaries. 
  

	9.12	 Financial Condition of the Borrower and the Subsidiaries 



The Guarantor is fully aware of the financial condition of the Borrower and each of the Subsidiaries and acknowledges that it shall receive a
benefit from the Beneficiaries entering into the Loan Documents to which the Beneficiaries are a party. The Guarantor assumes all responsibility for being and keeping itself informed of the Borrower’s and each of the Subsidiaries’
financial condition and assets, and of all other circumstances bearing upon the risk of non-payment or non-performance of the Obligations and the nature, scope and
extent of the risks which Guarantor assumes and incurs hereunder, and agrees that the Beneficiaries shall not have a duty to advise Guarantor of information known to any of them regarding such circumstances or risks. 

 

	9.13	 Acknowledgement of Documentation 



The Guarantor hereby acknowledges receipt of a true and complete copy of the Loan Documents and all of the terms and conditions thereof. 

 

	9.14	 Entire Agreement 



This Guarantee, the Credit Agreement and the other Loan Documents constitute the entire agreement between the Beneficiaries and the Guarantor
with respect to the subject matter hereof and cancel and supersede any prior understandings and agreements between such parties with respect thereto. There are no representations, warranties, terms, conditions, undertakings or collateral agreements,
expressed, implied or statutory, between such parties other than as expressly set forth herein or therein. 
  

	9.15	 Governing Law 



This Guarantee shall be governed by and construed in accordance with the laws of the Province of Alberta and the federal laws of Canada
applicable therein. 
  

	9.16	 Attornment 



The Guarantor and each of the Beneficiaries hereby attorn and submit to the non-exclusive jurisdiction
of the courts of the Province of Alberta in regard to legal proceedings relating to this Guarantee. For the purpose of all such legal proceedings, the courts of the Province of Alberta shall have jurisdiction to entertain any action arising under
this Guarantee. Notwithstanding the foregoing, nothing in this Section shall be construed nor operate to limit the right of the Guarantor or the Beneficiaries to commence any action relating hereto in any other jurisdiction, nor to limit the right
of the courts of any other jurisdiction to take jurisdiction over any action or matter relating hereto. 
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Intentionally Left Blank] 












 IN WITNESS WHEREOF the Guarantor has executed this Guarantee. 

 

			
	NEWFIELD EXPLORATION COMPANY
		
	By:	 	 /s/ David G. Hill

		 	Name: David G. Hill
		 	Title: Vice-President
		
	By:	 	 /s/ Andrew L. Rogers

		 	Name: Andrew L. Rogers
		 	Title: Vice-President


 [Signature Page to Guarantee – Newfield Exploration Company]