Devon sees STACK as its second-highest funded asset in 2019 PRB is the “best emerging growth opportunity in North America” Oklahoma-based Devon Energy Corporation (ticker: DVN) reported its Q3 2018 results Tuesday. On the call, Devon President and CEO Dave Hager gave good insight into the company’s STACK developments in Oklahoma. “Beyond the Delaware, the STACK and Rockies will also
Devon Energy Provides Operational Update for Jackfish Complex; Announces Third-Quarter Production and Capital Results
Carrizo places deal at $13,000 per net acre Houston’s Carrizo Oil & Gas, Inc. (Nasdaq: CRZO) said Tuesday it will acquire Delaware Basin properties from Devon Energy Corporation (NYSE: DVN) for $215 million in cash. Carrizo said it will fund the purchase with net proceeds from an equity offering. The underwritten public offering of 9,500,000 shares of common stock was priced
Devon’s early ’18 production from Delaware, STACK up 20% over 2017 average Devon Energy Corp. (ticker: DVN) accelerated production growth in early 2018. The company’s Delaware Basin and STACK assets are producing approximately 195,000 BOEPD. The combined daily production rates from these two assets represent a 10% increase over the fourth quarter of 2017, and a ~20% increase compared to
Penn Virginia Eagle Ford acquisition puts drill bit on contiguous acreage for extended reach laterals Penn Virginia Corporation (ticker: PVAC) closed its previously announced acquisition of Eagle Ford assets located primarily in Lavaca County, Texas on September 29, 2017. Penn Virginia bought the assets from Devon Energy Corporation (ticker: DVN) for $205 million in cash, subject to customary post-closing adjustment to
During Q2, Devon Energy (ticker: DVN) averaged approximately 536,000 BOEPD which was 6,000 BOEPD higher than the company’s midpoint guidance for the quarter. Of that, approximately 44% of the production was oil. Devon indicated that 412,000 BOEPD of its total 536,000 BOEPD was sourced from U.S. resource plays. The company believes that its liquid volumes will reach approximately 65% of
New Designs Deliver Big Results The Powder River Basin of Wyoming has traditionally been exploited for its coal resources and coalbed methane gas opportunities. Increased knowledge and improved execution from the oil and gas industry has changed that perception. The region has more than doubled its oil output since 2009, and the handful of E&Ps in the region have been
Devon Energy Transfers VEX Ownership to Enlink Midstream Last week Devon Energy (ticker: DVN) completed a dropdown of its Victoria Express Pipeline (VEX) to Enlink Midstream Partners (ticker: ENLK). Devon will receive $280 million from ENLK and EnLink Midstream LLC (ticker: ENLC), in which it owns a 34% and 70% interest, respectively. The VEX pipeline is a 56-mile multi-grade crude
