Devon Energy (DVN) released earnings for the first quarter of 2010, and updated its activities in many of its prospective oil and gas plays, including the Haynesville Shale.
Devon Energy reported the completion of 3 wells in the Haynesville shale in Shelby and Nacogdoches Counties in Texas. The company said that the initial production rates on these wells averaged 6 million cubic feet equivalent per day.
Devon Energy has 157,000 net acres in the Haynesville Shale, mostly in East Texas. The company has 110,000 acres in the Greater Carthage Area, and 57,000 acres in the South Area. Devon Energy plans to drill 25 operated wells here in 2010.