Question-and-Answer Session
Thank you Mr. Trice. [Operator Instructions]. And we'll take our first question from Ben Dell from Sanford Bernstein.
Benjamin Dell - Sanford C. Bernstein & Co., L.L.C.
Good morning guys.
David A. Trice - Chairman, President and Chief Executive Officer
Hi Ben.
Terry W. Rathert - Senior Vice President, Chief Financial Officer and Secretary
Good morning.
Benjamin Dell - Sanford C. Bernstein & Co., L.L.C.
I had a couple of questions really around the outlook for '09, obviously you have a pretty strong production profile for '08. Do you have a feel for what your two or three year outlook is going to be for production growth rate?
David A. Trice - Chairman, President and Chief Executive Officer
Just generally Ben. I think we are in a position without any significant exploration success to grow the company at the 8% to 10% range. And with exploration success we can be higher than that.
Benjamin Dell - Sanford C. Bernstein & Co., L.L.C.
Okay. And when you look at 2008 F&D, internally what sort of number are you targeting. It sounds to me from your commentary is that you expect it to come down year-on-year, is that right or am I just reading too much into what you said?
Terry W. Rathert - Senior Vice President, Chief Financial Officer and Secretary
Yes, that's right I think we are targeting around... keep in mind that in the Rocky Mountains that we target almost exclusively oil and if you look at the Rockies, we are probably targeting around $3 F&D cost or $18 a barrel which is obviously very acceptable, finding and development cost for oil and then overall company wide, we are around the 250 range.
Benjamin Dell - Sanford C. Bernstein & Co., L.L.C.
Okay.
Terry W. Rathert - Senior Vice President, Chief Financial Officer and Secretary
Mcfe basis.
Benjamin Dell - Sanford C. Bernstein & Co., L.L.C.
And just lastly obviously you mentioned in the quarter a couple of pipeline agreements that you made. But my calculation that only really covers, best case scenario sort of two years worth of incremental growth from the Woodford Shale. Are you actively looking to secure more pipeline agreement?
David A. Trice - Chairman, President and Chief Executive Officer
Yes.
Benjamin Dell - Sanford C. Bernstein & Co., L.L.C.
Okay. Great, thank you.
Operator
Our next question comes from Dave Kistler from Simmons & Company.
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