Q2 2015 OPERATIONS REPORT August 4, 2015 NYSE: DVN devonenergy.com IR Contacts Table of Contents Email: Key Takeaways ................ 2 investor.relationsdvn.com Results Overview & Outlook .............. 3 Howard J. Thill Operating…
KEY TAKEAWAYS HIGHLIGHTS Oil production exceeded expectations for the 4th consecutive quarter Heavy Oil On track to deliver fullyear 2015 production targets Improved operating cost and capital spending outlook Harvested 1.1…
RESULTS OVERVIEW & OUTLOOK Oil Production Exceeds Expectations for 4th Consecutive Quarter TOTAL COMPANY Q2 STATS Oil production averaged 270,000 barrels per day in the second quarter of 2015. Q2 2015 Q2 2014* This represents a 32%…
RESULTS OVERVIEW & OUTLOOK The EnLink Advantage: 1.1 Billion of Value Harvested The company has received regulatory approval and expects to close the In the first half of 2015, Devon utilized its strategic investment in EnLink to NGPL…
PERMIAN BASIN Net production averaged a record 113,000 Boe per day, an 11% increase PERMIAN BASIN Q2 STATS compared to the first quarter of 2015. Oil reached nearly 60% of Permian Q2 2015 Q2 2014 production. Production: Oil (MBOD)…
PERMIAN BASIN Activity Focused in Eddy & Lea Counties (continued) The Q2 results represents more than a 140% increase in 30day IP rates compared to a previous design of around 600 pounds per lateral foot. The basin is characterized by…
PERMIAN BASIN Inventory Upside: Bone Spring Downspacing Tests Delaware Sands Program Exceeds Expectations To optimize future development schemes and ultimately maximize resource Also in the Delaware Basin, the company is developing the…
PERMIAN BASIN Leonard Shale and Wolfcamp Potential Increasing With these strong industry results and Devons ongoing reservoir While drilling activity is focused on lowerrisk, higher rate of return Bone characterization work, the company…
EAGLE FORD Net production averaged 114,000 Boe per day in the second quarter of 2015, a EAGLE FORD Q2 STATS 75% increase compared to the second quarter of 2014 (chart below). Q2 2015 Q2 2014 Production: Eagle Ford Production Eagle…
EAGLE FORD Consistently Delivering BestInClass Results (continued) Wells Per Rig Per Year DeWitt County Over the past year, Devons initial 90day rates in DeWitt County have been 23.9 125% higher than the industry average across the…
EAGLE FORD Strong Upper Eagle Ford Marl Appraisal Result Updated 2015 Outlook In addition to Devons prolific Lower Eagle Ford development program, the The companys partner in DeWitt County elected to reduce drilling and company has…
HEAVY OIL Net oil production in Canada averaged 98,000 barrels per day, a 27% increase HEAVY OIL Q2 STATS compared to the second quarter of 2014 (chart below). This strong growth was Q2 2015 Q2 2014 achieved even with a scheduled…
HEAVY OIL WorldClass Jackfish Complex Drives Q2 Performance (continued) FrontEnd Engineering & Design Work Continues at Pike Overall, gross production from the Jackfish complex averaged 74,800 barrels per Activity at the companys Pike…
ANADARKO BASIN Net production averaged 82,000 Boe per day in the second quarter, with ANADARKO BASIN Q2 STATS controllable downtime declining to a company best at just 0.6% of total Q2 2015 Q2 2014 Anadarko Basin production.…
ANADARKO BASIN RecordSetting Pad Brought Online at Cana (continued) Even with larger completions jobs, Devon is reducing well cost expectations at Cana by 15% to 7 million per well due to improved Completion design enhancements drove…
ANADARKO BASIN Emerging Meramec Play Continues To Deliver Anadarko Basin: A Tremendous Resource Opportunity In addition to the companys bestinclass CanaWoodford development, Devon The Anadarko Basin provides the company with 340,000 net…
BARNETT SHALE Net production averaged 185,000 Boe per day in the second quarter, with BARNETT SHALE Q2 STATS liquids production accounting for 27% of total Barnett Shale production. Q2 2015 Q2 2014 Production: Enhancing Base…
BARNETT SHALE Activity Focused on Refracs (continued) To put this into perspective, 100 million Boe represents nearly 10% of the The company is also testing select vertical wells to restimulate a second time, companys current Barnett…
ROCKIES OIL Net production averaged 27,000 Boe per day, a 34% increase compared to the ROCKIES OIL Q2 STATS second quarter of 2014. Q2 2015 Q2 2014 Production: Oil production from this emerging area has now increased more than 80%…
ROCKIES OIL Powder River Basin Delivers HighRate Development Wells (continued) Big Sand Draw is expected to reach a peak rate of more than 5,000 barrels per day in 2016 and maintain a steady production profile for approximately Q2…
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