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3Q 2015 Operations Report – Devon Energy Corp

Devon Energy Corp · Nov 3, 2015 · 22 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. 3Q 2015 Operations Report – Devon Energy Corp – slide 1
    Q3 2015 OPERATIONS REPORT November 3, 2015 NYSE: DVN devonenergy.com IR Contacts Table of Contents Email: Key Takeaways ................ 2 investor.relationsdvn.com Results Overview & Outlook .............. 3 Howard J. Thill…
  2. 3Q 2015 Operations Report – Devon Energy Corp – slide 2
    KEY TAKEAWAYS HIGHLIGHTS Produced company record 282,000 barrels of oil per day Heavy Oil Exceeded oil production guidance for fifth consecutive quarter Raised oil production growth for the second time in 2015 Reduced lease…
  3. 3Q 2015 Operations Report – Devon Energy Corp – slide 3
    RESULTS OVERVIEW & OUTLOOK Record Oil Production Exceeds Guidance for 5th Consecutive Quarter TOTAL COMPANY Q3 STATS Oil production averaged a record 282,000 barrels per day in the third quarter Q3 2015 Q3 2014* of 2015. This represents…
  4. 3Q 2015 Operations Report – Devon Energy Corp – slide 4
    RESULTS OVERVIEW & OUTLOOK The EnLink Advantage: Steady Profits, Growing Distributions & Dropdowns Raising Oil Production Guidance For 2nd Time In 2015 The companys midstream business delivered another quarter of solid results, Based on…
  5. 3Q 2015 Operations Report – Devon Energy Corp – slide 5
    RESULTS OVERVIEW & OUTLOOK Additional Capital Savings Achieved Assuming current pricing, Devon expects it could generate low singledigit oil production growth in 2016, with E&P capital spending of 2.0 2.5 In addition to higher…
  6. 3Q 2015 Operations Report – Devon Energy Corp – slide 6
    DELAWARE BASIN Net production averaged 61,000 Boe per day, a 32% increase compared to Q3 DELAWARE BASIN Q3 STATS of 2014. Light oil reached nearly 70% of total Delaware Basin production. Q3 2015 Q3 2014 Production: The company also…
  7. 3Q 2015 Operations Report – Devon Energy Corp – slide 7
    DELAWARE BASIN Growth Driven By Well Productivity (continued) Bone Spring Downspacing Update For Bone Spring wells brought online in 2015, average cumulative production To optimize future development plans and expand risked inventory,…
  8. 3Q 2015 Operations Report – Devon Energy Corp – slide 8
    DELAWARE BASIN Leonard Shale Program Delivering Excellent Results (continued) Devon has identified 700 risked undrilled locations in the Delaware Sands and has a total unrisked inventory of about 1,500 locations. Devon commenced…
  9. 3Q 2015 Operations Report – Devon Energy Corp – slide 9
    DELAWARE BASIN Delaware Basin Resource Potential Expands Q4 Outlook: 60%Plus Oil Growth Expected Devon has one of the best Delaware Basin positions in the industry with Devon remains on plan to drill 140 wells in 2015. stackedpay…
  10. 3Q 2015 Operations Report – Devon Energy Corp – slide 10
    EAGLE FORD Net production averaged 113,000 Boe per day with liquids accounting for EAGLE FORD Q3 STATS nearly 80% of production in the third quarter. Q3 2015 Q3 2014 Production: This strong result exceeded guidance by 13,000 Boe…
  11. 3Q 2015 Operations Report – Devon Energy Corp – slide 11
    EAGLE FORD RecordSetting Well Results Drive Production Outperformance Staggered Lateral Infill Program Under Way The companys production outperformance in Q3 was driven by strong well To maximize net present value, the company initiated…
  12. 3Q 2015 Operations Report – Devon Energy Corp – slide 12
    EAGLE FORD Eagle Ford Inventory Expands (continued) Eagle Ford Production & Takeaway Capacity (MBOED) The shallower Upper Eagle Ford Marl formation also resides across the companys acreage position with potential for around 400…
  13. 3Q 2015 Operations Report – Devon Energy Corp – slide 13
    HEAVY OIL Net oil production in Canada averaged 121,000 barrels per day, a 52% increase HEAVY OIL Q3 STATS compared to the third quarter of 2014 (chart below). This result exceeded the Q3 2015 Q3 2014 topend of guidance by 6,000…
  14. 3Q 2015 Operations Report – Devon Energy Corp – slide 14
    HEAVY OIL Minimal Maintenance Capital Requirements Going Forward Jackfish 2 Continues Production RampUp With the Jackfish complex approaching nameplate capacity of 105,000 barrels Net production at Jackfish 2 reached 27,000 barrels per…
  15. 3Q 2015 Operations Report – Devon Energy Corp – slide 15
    HEAVY OIL Engineering & Design Work Continues at Pike Activity at the companys Pike project for the remainder of 2015 will consist of engineering and design work. The Pike acreage lies immediately adjacent to the Jackfish complex and…
  16. 3Q 2015 Operations Report – Devon Energy Corp – slide 16
    ANADARKO BASIN Net production averaged 83,000 Boe per day, with Devon and its partner ANADARKO BASIN Q3 STATS running 9 rigs during the quarter. Q3 2015 Q3 2014 Production: Cana Completion Activity Under Way Oil (MBOD) 9 10 Devon…
  17. 3Q 2015 Operations Report – Devon Energy Corp – slide 17
    ANADARKO BASIN Drilling Efficiencies Continue At CanaWoodford Meramec Delivers Strong Results Devon is currently running 3 operated rigs in the CanaWoodford and continues In addition to Devons bestinclass CanaWoodford development, the…
  18. 3Q 2015 Operations Report – Devon Energy Corp – slide 18
    ANADARKO BASIN Meramec Inventory Expands Accelerating Meramec Activity In an ongoing effort to derisk the emerging Meramec play, Devon and other The company and its partners are accelerating Meramec drilling by operators have now…
  19. 3Q 2015 Operations Report – Devon Energy Corp – slide 19
    BARNETT SHALE Net production averaged 176,000 Boe per day or 1.1 Bcfe per day in the third BARNETT SHALE Q3 STATS quarter. Liquids accounted for 26% of total production. Q3 2015 Q3 2014 Production: Devons Barnett Shale properties…
  20. 3Q 2015 Operations Report – Devon Energy Corp – slide 20
    BARNETT SHALE Vertical Refrac Program Exceeds Expectations (continued) Today, costs are trending at 1.2 million per refrac, down approximately 10% from earlier in the year. With improved productivity and lower costs, the companys…
  21. 3Q 2015 Operations Report – Devon Energy Corp – slide 21
    ROCKIES OIL Net production averaged 28,000 Boe per day, a 25% increase compared to the ROCKIES OIL Q3 STATS third quarter of 2014. Q3 2015 Q3 2014 Production: Oil production from this emerging opportunity increased 61% year over…
  22. 3Q 2015 Operations Report – Devon Energy Corp – slide 22
    ROCKIES OIL Powder River Basin Delivers HighRate Development Wells (continued) As a result of these productivity gains and further cost reductions across the supply chain, Devon is now targeting well costs of 7.0 million per Q3…

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