Q1 2015 OPERATIONS REPORT May 5, 2015 NYSE: DVN devonenergy.com IR Contacts Table of Contents Email: Q1 Results Overview & Outlook ... 3 investor.relationsdvn.com Operating Areas: Howard J. Thill Senior Vice President,…
Q1 RESULTS OVERVIEW & OUTLOOK Production Exceeds Guidance for 3rd Consecutive Quarter TOTAL COMPANY Q1 STATS* Overall, total production from Devons retained asset base increased 22% year Q1 2015 Q1 2014 over year to 685,000 Boe per day.…
Q1 RESULTS OVERVIEW & OUTLOOK Production Exceeds Guidance for 3rd Consecutive Quarter (continued) Midstream Update: The EnLink Advantage With this strong growth in oil production, the companys liquids volumes now The company had another…
Q1 RESULTS OVERVIEW & OUTLOOK Raising 2015 Production Outlook Revised 2015 Capital Outlook: Additional Cost Savings Achieved Based on the strong results achieved in Q1 and the expectation of continued In addition to higher production…
EAGLE FORD Net production averaged a record 122,000 Boe per day in the first quarter with EAGLE FORD Q1 STATS oil accounting for 62% of total production. Q1 2015 Q1 2014 Production: This strong result represents a 23% increase in…
EAGLE FORD Productivity Gains Boost DeWitt Results To date, Devons Upper Eagle Ford activity is highlighted by 4 operated wells across both DeWitt and Lavaca counties (map below). Initial 30day The highrate wells brought online in…
EAGLE FORD Q2 Production Outlook Based on strong Q1 production results, Devon is ahead of its fullyear plan in the Eagle Ford. Due to the prolific improvements in well productivity in DeWitt County, the company expects to reach field…
PERMIAN BASIN Net production averaged a record 102,000 Boe per day, a 12% increase PERMIAN BASIN Q1 STATS compared to the first quarter of 2014. In aggregate, winter weather events Q1 2015 Q1 2014 curtailed production by…
PERMIAN BASIN Delaware Basin Activity Focused on Bone Spring Play (continued) 180Day Cumulative Production Bone Spring Basin First quarter drilling activity in the Delaware Basin was highlighted by 22 new 160 New Designs Cumulative…
PERMIAN BASIN Optimizing Delaware Basin Development Plan Pilot 3 Pilot 4 Pilot 5 660 660 280 To optimize future development schemes and ultimately maximize the value of Upper 2nd BONE SPRING our resource, the company is…
HEAVY OIL Net oil production in Canada averaged 104,000 barrels per day, a 33% increase HEAVY OIL Q1 STATS compared to the first quarter of 2014 (chart below). Additionally, unit LOE Q1 2015 Q1 2014 declined 34% over the same time…
HEAVY OIL Jackfish 1 Continues to Exceed NamePlate Capacity Devon expects to reach nameplate capacity of 35,000 barrels per day around yearend 2015. Gross production at Jackfish 1 averaged 35,200 barrels per day in the first quarter.…
ANADARKO BASIN Net production averaged 88,000 Boe per day in the first quarter, with liquids ANADARKO BASIN Q1 STATS production accounting for 44% of total production. Q1 2015 Q1 2014 Production: CanaWoodford Development Activity…
ANADARKO BASIN Emerging Meramec Potential With the recent success of appraisal activity in the Meramec, the company has now derisked 60,000 net acres in the oil and liquids window of the Devon and its partner are running 3 rigs during…
BARNETT SHALE Net production averaged 191,000 Boe per day, with liquids production BARNETT SHALE Q1 STATS accounting for 28% of total Barnett Shale production in the first quarter. Q1 2015 Q1 2014 Production: Maximizing Base…
ROCKIES OIL Net production averaged 22,000 Boe per day in the first quarter. Oil production ROCKIES OIL Q1 STATS from this emerging opportunity increased 51% compared to the first quarter of Q1 2015 Q1 2014 2014 (chart below).…
ROCKIES OIL Opportunistic Acreage Capture CO2 Projects to Enhance Rockies Oil Growth With its improving potential in the Powder River oil fairway, the company has Devon is currently in the process of bringing online its Big Sand Draw…
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