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Devon Energy oil and gas exploration summary

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02 November 2018

Devon Energy oil and gas exploration summary

Report summary

After shedding its non-core positions, Devon will focus entirely on developing core assets. The main focus is on STACK and Delaware basin developments, where it has and will continue to direct the majority of its exploration spend. Devon will run a number of rigs in the Delaware basin where it will work to delineate the Leonard Shale and Delaware Sands formations. In the STACK, Devon is targeting the Woodford and Meramec, which overlies the Woodford. Devon gained wide access to well data in the Permian through the acquisition of Felix Energy in December 2015, which will help it improve operational performance there.

Table of contents

  • Executive summary
    • Upstream strategy
    • Other Devon Energy research
    • Evolution of exploration strategy
  • Investment and costs
    • Well data
    • Scope of this report
  • Production
    • Conventional assets sales created value and funded early unconventional exploration
    • Tight oil plays creating the most value
    • Shale gas success limited by gas price falls

Tables and charts

This report includes 22 images and tables including:

  • Executive summary: Image 1
  • Ten year performance summary
  • Exploration & appraisal spend and reinvestment
  • Exploration & appraisal spend by water depth
  • Exploration & appraisal spend by basin maturity
  • Discovery costs by water depth
  • Production: Image 1
  • Full-cycle economics
  • SWOT Grid
  • Gross exploration & appraisal wells by basin and sector
  • Exploration wells drilled and spend per well
  • Exploration success rates
  • Conventional new field discoveries (2008 to 2017)
  • Key organic unconventional plays
  • Volumes discovered by year
  • Volumes discovered by water depth
  • Volumes discovered by country
  • Volumes discovered by basin
  • Full cycle value creation by year, with uncons
  • Exploration returns by year, with uncons
  • Costs and development value by resource category
  • Exploration returns by water depth

What's included

This report contains:

  • Document

    Devon Energy oil and gas exploration summary

    PDF 1.64 MB