Devon Energy (DVN) reported average production of 41,600 barrels of oil equivalent (BOE) per day from the Cana Woodford Shale in the fourth quarter of 2011. This represented production growth of 83% on a year over year basis.
Devon Energy was operating 16 rigs at the end of 2011 and drilled 47 gross wells during the quarter. Proved reserves in the Cana Woodford Shale totaled 328 million BOE at the end of 2011.
Devon Energy has budgeted $870 million in capital in 2012 to drill close to 200 wells in the Cana Woodford Shale. The company expects to average liquids production of 16,000 barrels per day here in 2012.