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Devon Energy Corp DVN

Devon Energy Corporation is an oil and gas producer in the United States with a multi-basin portfolio. The Company is primarily engaged in the exploration, development and production of oil, natural gas and natural gas liquids (NGLs). Its oil and gas properties include Delaware Basin, Eagle Ford, Anadarko Basin, Williston Basin and Powder River Basin. The Delaware Basin operates in southeast New Mexico and across the state line into west Texas. It offers exploration and development opportunities from many geologic reservoirs and play types, including the oil-rich Wolfcamp, Bone Spring, Avalon and Delaware formations. The Eagle Ford operations are located in Texas' DeWitt and Karnes counties. The Anadarko Basin has around four-operated rig program associated with a joint venture. Its position in the Williston is located entirely on the Fort Berthold Indian Reservation in North Dakota. The Powder River Basin is focused on emerging oil opportunities in Wyoming's Powder River Basin.


NYSE:DVN - Post by User

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Post by Beabaggageon May 12, 2015 12:27pm
363 Views
Post# 23719581

WY/Rockies drills far exceeding expectations/ JV w AET.UN

WY/Rockies drills far exceeding expectations/ JV w AET.UNfrom DVN 1st q Operations Report, page 18, 5/5/15 release,, JV w Argent in Powder River/WY "Rockies" where 2 rigs operate,.. Bea............. Raising Powder River Basin Type Curve Expectations: Devon brought 11 development wells online during the quarter targeting the Parkman and Turner formations in Campbell County, Wyoming. Initial 30‐day production rates from these wells averaged almost 1,400 Boe per day, of which more than 80% was light oil. A recently enhanced well design drove these outstanding results. The company’s new design uses extended‐reach laterals of 9,600 feet, more than 2 times the lateral length of the previous design. With strong results from the well design changes, Devon is raising its type curve in the Parkman Focus Area. Initial 30‐day production rates for these extended reach development wells are expected to be about 150% higher than the previous design, at an incremental cost of only 45%.
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