Company Report
Devon Energy oil and gas exploration summary
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Report summary
Devon Energy’s focus is now entirely on developing core, high-return tight oil assets, such as the Powder River and Delaware basin developments. We expect it will continue to direct the majority of its exploration spend towards these areas. The company shed its non-core positions in Canada and the US over the last 10 years. This was part of its US$1 billion non-core asset divesture plan announced in 2017. The target was increased to US$5 billion in 2018. Most recently, it sold its position in Canadian Heavy oil (2019) and the US Barnett Shale (2020).
Table of contents
- Exploration strategy
- Exploration results
- Current portfolio and exploration outlook
- Production and potential cost of production
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Value creation
- Tight oil generates the value
- Deleware Basin
- Powder River
- Anadarko Basin
- Mid-Continent fails to deliver
Tables and charts
This report includes the following images and tables:
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Devon Energy's current acreage - top countries (in '000 km2)Net conventional exploration and appraisal wells by countryExploration & appraisal spend and reinvestment
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Unconventional plays commercialised (2011-2020)Volumes discovered by yearVolumes discovered by water depthVolumes discovered by countryVolumes discovered by basinProduction from new field discoveries and organic unconventionals, and as a proportion of all future productionFinding and development costs for added resourcesFull-cycle economicsConventional value and spend by country
- 3 more item(s)...
What's included
This report contains:
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