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
-
Value creation
- Tight oil generates the value
- Deleware Basin
- Powder River
- Anadarko Basin
- Mid-Continent fails to deliver
Tables and charts
This report includes 15 images and tables including:
- Devon Energy's current acreage - top countries (in '000 km2)
- Net conventional exploration and appraisal wells by country
- Exploration & appraisal spend and reinvestment
- Unconventional plays commercialised (2011-2020)
- Volumes discovered by year
- Volumes discovered by water depth
- Volumes discovered by country
- Volumes discovered by basin
- Production from new field discoveries and organic unconventionals, and as a proportion of all future production
- Finding and development costs for added resources
- Full-cycle economics
- Conventional value and spend by country
- Exploration returns by water depth
- Conventional value creation
- Unconventional value creation
What's included
This report contains:
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