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Devon Sees Oil Output Jump 16% from Prior Quarter; Talks STACK, Delaware IPs
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Devon Energy reported its Q1 2018 results.
Overall Production Dips / Oil Output Up- Total Q1 2018 production averaged 544,000 BOEPD in the first quarter (46% oil) (down -3% YOY and down -1% from prior quarter)
Despite lower production comparatively for Q1, Devon has raised its 2018 guidance for U.S. oil production (estimated growth rate of 16% compared to 2017, up from the previous guidance of 14%). The strongest performance in the U.S. was driven by the company's Delaware and STACK assets, where combined oil production increased 16% compared to the prior quarter. STACK ResultsCommenced production on 12 high-rate wells that averaged IP30s of 3,500 Boe per day (55 percent oil).
The most prolific STACK wells for the quarter belonged to the four wells from the Coyote development that…- ✓ Full news archive — U.S., Canada & international coverage
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