Q3 2014 OPERATIONS REPORT November 4, 2014 NYSE: DVN devonenergy.com IR Contacts Table of Contents Email: Q3 Results Overview & Outlook ... 3 investor.relationsdvn.com Core Assets: Howard J. Thill Permian Basin .... 5 Senior Vice…
Q3 RESULTS OVERVIEW & OUTLOOK Oil Production Exceeds Expectations TOTAL COMPANY Q3 STATS(1) Oil production from Devons retained asset base averaged 216,000 barrels per Q3 2014 Q3 2013 day. This is 44% higher compared to the third…
Q3 RESULTS OVERVIEW & OUTLOOK Portfolio Transformation Complete (continued) Raising 2014 Production Outlook; Capital Plans Unchanged On August 29, Devon closed the 2.3 billion sale of its U.S. noncore assets, Based on strong yeartodate…
PERMIAN BASIN Net production averaged a record 98,000 Boe per day, a 20% increase PERMIAN BASIN Q3 STATS compared to the third quarter of 2013. Lightoil accounted for nearly 60% of Q3 2014 Q3 2013 total production. Production: Oil…
PERMIAN BASIN Raising Bone Spring Type Curve In the Bone Spring play, the company is testing industry leading sand volumes ranging from 1,500 to as high as 2,500 pounds per lateral foot. Devon continued to achieve outstanding…
PERMIAN BASIN Successful First Test in Northern Midland Wolfcamp Trend (continued) Southern Midland Wolfcamp: Joint Venture Delivers Capital Efficient Growth Devon expects to add a 2nd operated rig in the fourth quarter. Devons 2014…
EAGLE FORD Net production averaged a record 78,000 Boe per day in the third quarter, with EAGLE FORD Q3 STATS oil accounting for approximately 60% of total production. Q3 2014 Q3 2013 Production: The company exited the quarter…
EAGLE FORD 2014 & 2015 Production Targets On Track (continued) First Upper Eagle Ford Well In Progress Devon projects these assets will achieve an average rate in excess of 100,000 In addition to Devons Lower Eagle Ford development…
EAGLE FORD Encouraging Results in Lavaca County Thirdquarter activity was highlighted by 7 notable wells (operated and non operated) in western Lavaca County. Initial 24hour production from these wells averaged approximately 2,000 Boe…
HEAVY OIL Net oil production in Canada averaged 80,000 barrels per day, a 9% increase HEAVY OIL Q3 STATS compared to the third quarter of 2013. This strong result exceeded the midpoint Q3 2014 Q3 2013 of the companys guidance range…
HEAVY OIL Jackfish 3 Achieves First Oil Devon commenced steam injection on July 13th. Net production averaged 1,600 barrels per day during the third quarter. The company expects Jackfish 3 to exit 2014 producing around 10,000…
ANADARKO BASIN Net production averaged a record 98,000 Boe per day, a 17% increase ANADARKO BASIN Q3 STATS compared to the third quarter of 2013. Liquids in the Anadarko Basin increased Q3 2014 Q3 2013 30% yearoveryear and now…
ANADARKO BASIN Accelerating Cana Activity Due to the highly competitive economics at Cana, the company plans to accelerate drilling activity to more than 10 rigs (including nonoperated activity) by the first quarter of 2015. Rates…
BARNETT SHALE Net production averaged 205,000 Boe per day. Liquids production increased to BARNETT SHALE Q3 STATS 27% of total Barnett Shale production. Q3 2014 Q3 2013 Production: The Barnett Shale represents significant gas…
ROCKIES OIL Net production averaged 22,000 Boe per day. Oil production from this ROCKIES OIL Q3 STATS emerging opportunity increased 23% compared to the third quarter of 2013. Q3 2014 Q3 2013 Production: Rockies Oil Production Oil…
MISSISSIPPIANWOODFORD Net production averaged a record 21,000 Boe per day, a 136% increase, MISSISSIPPIANWOODFORD Q3 STATS compared to the third quarter of 2013. Q3 2014 Q3 2013 Production: Oil and NGL accounted for nearly 75% of…
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