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Devon IDs 2022 Plans; Bets 75% of Upstream Capex on the Permian
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Devon Energy Corp. detailed its 2022 capital plans.
2022 Plans- Capex: $2.06-2.44 billion - up 32% vs. 2021
D&C / Upstream: $1.9-2.2 billion - up 11% vs. 2021 Midstream & Other: $80-120 million Environmental Capital: $80-120 million- D&C Capex by Play
Delaware Basin: $1.425-1.65 billion (75% of total upstream capital) - relatively flat YOY Other Plays (Anadarko, PRB, Williston): $475-550 million (25% of total upstream capital)- Rigs Running: 19
Delaware Basin: 14 rigs Anadarko Basin: 3 rigs Williston & PRB Basins: ~2 rigs- Frac Crews: 4
- Well Plans (gross): 320-340 wells TIL - down 8% from 2021
Delaware Basin: 210-230 wells TIL Anadarko Basin: 57 wells TIL Williston & PRB Basins: ~53 wells TIL- Production: 570-600 MBOEPD - up 2.5% at midpoint vs. 2021
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