Highlights & CEO Perspective Q3 Highlights & Outlook Production exceeds midpoint of hurricane-adjusted guidance CEO Perspective U.S. oil production on track to increase 20% in Q4 Devons 2020 Vision Drill-bit momentum: 50 high-rate…
Key Modeling Stats HEAVY OIL Q3 RESULTS Q3 GUIDANCE Q3 ACTUALS U.S. oil (MBbls/d) 107 - 112(1) 112 Canada oil (MBbls/d) 117 - 122 121 Total NGLs (MBbls/d) 91 - 96(1) 94 ROCKIES Total gas (MMcf/d) 1,173 - 1,205 1,201 Total (MBoe/d)…
Overview & Outlook Production Exceeds Midpoint of High-Returning Oil Growth to Accelerate in Q4 Hurricane-Adjusted Guidance With operations fully restored from storm-related impacts, Devon remains on track to achieve Net production…
Overview & Outlook Drill-Bit Momentum: 50 High-Rate Wells Brought Online Capital Spending 12% Below Budget YTD During the quarter, Devon commenced production on 50 wells that Devons E&P capital spending totaled 548 million in Q3, which…
Overview & Outlook Free Cash Flow Increases Cash Balances to 2.8 Billion Johnson County Divestiture Package Progressing The companys upstream operations generated free cash flow in Q3, With 420 million of asset sales achieved to date,…
Overview & Outlook Preliminary 2018 Outlook Showcases Capital Efficiency The capital program in 2018 is being designed to optimize returns, not production growth. And while strong growth is expected from the STACK and Delaware Basin…
Operational Excellence & Technology Leadership Highlights Supply-chain initiatives providing certainty of execution Operational efficiencies offsetting industry inflation YTD Delaware Anaconda project delivers savings of 1MM per…
Operational Excellence & Technology Leadership Regional Sand Mines Drive Substantial Cost Savings Regional Sand Drives 30% SAVINGS To ensure certainty of execution, Devon recently locked in sand requirements in the STACK and…
STACK STACK Production Highlights MBOED 120 STACK production advances 26% YTD 35% GROWTH 111 Strong Meramec oil results 105 Fleenor pilot IP30 3,500 BOED per well 95 88 Multi-zone Showboat project underway Full-field…
STACK Meramec Oil Window Delivers Outstanding Well Results in Q3 Fleenor Pilot Delivers High Oil Rates Devon brought online 14 strong Meramec wells in Q3 that averaged 30-day IPs of 2,300 Boe A key pilot in Q3 was the Fleenor wells in…
STACK Drilling Commenced at Showboat Project Full-Field Development Activity Accelerates Devon began drilling its first multi-zone With the companys STACK assets shifting to full-field development, Devon has several large- STACK…
STACK Industry Leading Well Productivity Across Devons advantaged STACK position, new Meramec well activity In fact, the company has an ownership interest in 42 out of the top 50 has consistently delivered best-in-class production…
Delaware Basin Prolific Bone Spring Wells Showcase Massive State-Line Potential Highlights New well activity in Q3 was highlighted by 4 outstanding Bone Spring wells near the NM state Building momentum with 40 spuds line that…
Delaware Basin First Production Achieved at Anaconda Anaconda Project (Testing 19 wells per section across 3 landing zones) The companys first multi-zone project, called the Anaconda project, is now flowing back. A Initial The…
Delaware Basin High-Return, Multi-Zone Development Work Accelerating Future Projects Accelerated by Innovative Permitting Strategy In addition to the Anaconda project, Devon expects 4 additional multi-zone projects to be underway by…
Rockies POWDER RIVER BASIN ACTIVITY Highlights YTD wells achieve IP30 1,800 BOED (1) Teapot activity delivers high oil rates ) Initial Super Mario Turner results expected in Q4 Appraisal Program Achieving Outstanding…
Rockies Catalyst Alert: Super Mario Results Coming Soon An Emerging Growth Opportunity For the remainder of 2017, the majority of new well results in the Powder River Basin will be Overall, the company possesses 400,000 targeting the…
Cash Flow Generating Assets Summary Devon possesses top-tier cash flow generating assets in North HEAVY OIL America (see graphic) and the companys strategy with these assets is two-fold: 1) To efficiently manage base production and…
Cash Flow Generating Assets Eagle Ford Record Development Wells Brought Online Net production averaged 57,000 Boe per day in the quarter. Production These outstanding wells leveraged Devons new staggered was curtailed over a 3-week…
Cash Flow Generating Assets Barnett Shale Net production in the Barnett Shale averaged 148,000 Boe per day or The ethane rejection had a minor impact in Q3 and cash flow in the 0.9 Bcfe per day. Barnett was largely unaffected by these…
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