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STACK, Delaware Basin E&P Putting Rigs Back to Work in 2H16
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Devon Energy Corp. reported operational and financial results for the second quarter of 2016 and provided guidance for the third quarter and full-year 2016.
Key Points: Devon expects its full-year 2016 upstream capital program to range between $1.1 billion and $1.3 billion, an increase of $200 million from previous guidance. The incremental capital will be deployed in the STACK and Delaware Basin, with the potential to add as many as 7 operated rigs between these prolific plays in the second half of 2016. In the second quarter of 2016, Devon announced multiple agreements to monetize $2 billion of non-core upstream assets in the U.S. Several of these transactions have closed and the Company expects the remaining transactions to close in the third quarter. Highlights: Exceeded…- ✓ Full news archive — U.S., Canada & international coverage
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