Barnett Shale

Devon Energy - Q2 2011 - Barnett Shale Update

Devon Energy (DVN) was one of the earliest operators in the Barnett Shale in Texas, and continued to develop this play during the second quarter of 2011.

Devon Energy reported average daily production of 1.28 billion cubic feet of natural gas per day during the most recent quarter, up 13% over the same quarter in 2010.  This production included 46,000 barrels per day of liquids.

Devon Energy has 624,000 net acres under lease and plans to drill a total of 375 wells into the Barnett Shale in 2011.

Pioneer Natural Resources - Barnett Shale Combo Play - Q1 2011 Update

Pioneer Natural Resources (PXD) updated the company’s first quarter of 2011 operations in the Barnett Shale Combo play in Texas.  The company has 70,000 net acres under lease and approximately 600 drilling locations.

Pioneer Natural Resources started drilling here in late 2010, and is operating two rigs in the play.  The company has drilled 24 wells, completed ten and is producing from five. 

Pioneer Natural Resources reported that the last three wells completed in the Barnett Shale combo play had average production rates of 356 barrels of oil equivalent (BOE) per day during the first five days of production.  This production included 155 barrels of oil and 854,000 cubic feet of natural gas per day.

Pioneer Natural Resources plans total drilling capital spending of $1.6 billion in 2011, and has allocated $170 million for the Barnett Shale Combo play.

Devon Energy Updates Operations In Barnett Shale For Fourth Quarter Of 2010

Devon Energy (DVN) reported earnings for the fourth quarter of 2010 and held a conference call with the investment community to discuss the results.  The company disclosed additional data on its operations in the Barnett Shale field in Texas.

Devon Energy reported average daily production of 1.2 billion cubic feet of natural gas equivalents per day in the fourth quarter of 2010, up 14% from the same quarter last year.  The company said that this production included 42,000 barrels per day of liquids production.