Topic: Devon Energy

New Well Highlights from Bakken, Marcellus, Anadarko, and Wolfcamp

Hunt Oil Completes 2-mile Lateral in Bakken (2018-07-24) Hunt Oil Company has completed a Bakken well, the AUSTIN 154-90-27-22H-1, in Mountrail county, North Dakota.The AUSTIN 154-90-27-22H-1 had an initial production rate of 1073 bbl of oil, 570 MMcf of gas, and 341 bbl of water. Drilled at a depth of 9,420-ft, the 10,509-ft lateral well completed with plug and perf system. Hunt Oil Company reported a max pressure of 7,073 PSI and max rate of 62 barrels per minute in its...

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Newfield Exploration Leads Kingfisher County in 2016 with 10,000 Foot Laterals

Kingfisher county, located in the STACK, is among the most active counties in Oklahoma having 163 new completions since the start of 2016. Within the last year some of the most active operators have been Alta Mesa Holdings, Newfield Exploration and Chesapeake Energy. Alta Mesa has completed 46 wells and fracked 57 wells compared to Newfield who had 36 completions and fracking 44 wells. The county used a total of 770,000 tons of raw sand with 230 tons of resin...

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Devon Energy Will Utilize 15 to 20 rigs in 2017 with STACK and Delaware Focus

Devon Energy (NYSE: DVN) released its preliminary 2017 outlook in December expressed the possibility of getting to 15 to 20 rigs in their drilling program with a focus in the STACK and Delaware basins. Devon will also focus on reducing their drilled but uncompleted count in the Eagle Ford down to about 40 in the first half of the year. The company is forecasting double digit U.S. oil growth with about a third of production hedged in 2017.Source: Devon Energy...

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E&P Earning Season Ends with DUCs, Bankruptcy, & Divesting Themes

Taking a look back at the first quarter we will review some updates from operators around the country and how they have held up into 2016 and are preparing for the rest of the year. Many have increase production guidance showing that they can still produce with declining capital budgets and others are looking to asset sales to gain liquidity. Below are some highlights from the quarter. Devon Energy Increases Production Guidance During the first quarter Devon Energy (NYSE: DVN) spent $363...

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Devon Energy Actively Manages $976M in Debt and Continues Refrac Program

Devon Energy (NYSE: DVN) cut their budget by 75%, forecasting a 10% decline in oil production on a quarter to quarter basis from 2015 to 2016. Devon continues to manage their debt by putting assets up for sale and raising equity to cover the $976 million in debt they have in 2016. Committed to the Stack in 2016 In 2016 Devon will be running 4 rigs in the Stack with a focus in Meramec. The company is testing down spacing and staggering to...

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Less Volatility and +0.4% More Rigs This Week

The Baker Hughes (BHI) US land rig count improved this week by adding 3 rigs, bringing the count to 844 rigs from last week's 841 rigs (a 0.4% increase). For the week, -2 horizontal rigs were dropped while +4 vertical rigs and +1 directional rig were added. Fayetteville saw the most action, adding +2 rigs and bringing the count to 8 rigs from last week's 6 rigs. There was also activity in the miscellaneous category adding +6 rigs, half of which were horizontal and...

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