Q4 2014 OPERATIONS REPORT February 17, 2015 NYSE: DVN devonenergy.com IR Contacts Table of Contents Email: Q4 Results Overview & Outlook ... 3 investor.relationsdvn.com Core Assets: Howard J. Thill Eagle Ford .. 6 Senior Vice…
Q4 RESULTS OVERVIEW & OUTLOOK Repositioned Portfolio Continues to Exceed Production Expectations TOTAL COMPANY Q4 STATS* Overall, total production in Q4 from Devons repositioned portfolio increased Q4 2014 Q4 2013 20% year over year to…
Q4 RESULTS OVERVIEW & OUTLOOK 2014: A Year of Exciting Change & Excellent Execution Reserves From Retained Assets Grow; Oil Reserves Climb to Record Levels In 2014, Devon transformed its portfolio through three significant steps: an…
Q4 RESULTS OVERVIEW & OUTLOOK 2015 Outlook: Production Guidance Unchanged; E&P Capital Reduced 20% (continued) On a Boe basis the company expects yearoveryear growth of 5%. On a In 2015, the company has minimal exposure to longterm…
EAGLE FORD Net production averaged a record 98,000 Boe per day in the fourth quarter, of EAGLE FORD Q4 STATS which 61% was oil. Q4 2014 Q4 2013 Production: This strong result, driven by superior execution, exceeded the top end of…
EAGLE FORD Raising Type Curve Expectations in DeWitt County Devon began derisking this emerging opportunity with 2 notable appraisal wells in 2014. Initial 30day production rates from these wells averaged The companys recently…
EAGLE FORD 2015 Outlook: 50%Plus Production Growth Expected Devon expects its Eagle Ford assets to once again deliver the highest and most profitable production growth of any asset in its portfolio. Driven by lowrisk infill drilling…
PERMIAN BASIN Net production averaged 98,000 Boe per day, a 14% increase compared to the PERMIAN BASIN Q4 STATS fourth quarter of 2013. Fullyear production increased 23% compared to 2013. Q4 2014 Q4 2013 Production: These…
PERMIAN BASIN New Completion Design Delivers Exceptional Results in Delaware Basin (continued) To optimize future development schemes and prove up additional inventory, the company is testing multiple downspacing pilots in the 2nd The…
PERMIAN BASIN Midland Basin Delivers CapitalEfficient Growth This highlyeconomic and lowrisk capital program is expected to deliver production growth greater than 20% in the Delaware Basin in 2015 (chart Devons 2014 Midland Basin…
HEAVY OIL Net oil production in Canada averaged 93,000 barrels per day, a 15% increase HEAVY OIL Q4 STATS compared to the fourth quarter of 2013. This strong production result exceeded Q4 2014 Q4 2013 the top end of the companys…
HEAVY OIL Jackfish 2 Production Advances (continued) Devons activity at Pike in 2015 will be limited to frontend engineering and design work, as well as a minor stratigraphic drilling program to This strong production result was…
ANADARKO BASIN Net production averaged a record 100,000 Boe per day, a 17% increase ANADARKO BASIN Q4 STATS compared to the fourth quarter of 2013. Q4 2014 Q4 2013 Production: Liquids production in the Anadarko Basin increased 23%…
ANADARKO BASIN CanaWoodfords STACK Potential (continued) 2015 Outlook: Accelerating LiquidsRich Development Activity The company commenced production on its first operated STACK well targeting For fullyear 2015, the company plans to…
BARNETT SHALE Net production averaged 201,000 Boe per day. Liquids production accounted BARNETT SHALE Q4 STATS for 27% of total Barnett Shale production. Q4 2014 Q4 2013 Production: With minimal drilling activity in 2014, the asset…
ROCKIES OIL Net production averaged 19,000 Boe per day in the fourth quarter, with liquids ROCKIES OIL Q4 STATS reaching 50% of production. Fourthquarter oil production increased 9% year Q4 2014 Q4 2013 over year. Production: Oil…
MISSISSIPPIANWOODFORD Net production averaged 20,000 Boe per day, a 41% increase compared to the MISSISSIPPIANWOODFORD Q4 STATS fourth quarter of 2013. Oil and NGLs accounted for 74% of total production. Q4 2014 Q4 2013 Production:…
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