Barnett Shale

Devon Energy Updates Barnett Shale Operations

Devon Energy (DVN) reported average production of 220,100 barrels of oil equivalent (BOE) per day from the Barnett Shale in the fourth quarter of 2011. The company was operating 12 rigs at the end of 2011, but plans to drop two rigs in 2012.  Devon Energy drilled 83 gross wells during the quarter, and 309 during the full year.

Devon Energy has allocated $950 million in capital to develop properties in the Barnett Shale in 2012 and will drill 300 wells during the year.  Devon Energy reported proved reserves of 1.15 billion BOE in the Barnett Shale at the end of 2011.

Devon Energy is using pad drilling to develop the Barnett Shale and recently brought a 22 well pad onto production, with average initial production rates of 3.2 million cubic feet of natural gas equivalents per day.

Devon Energy To Expand Bridgeport Gas Processing Plant To Handle Barnett Shale Production

Devon Energy (DVN) has announced another expansion of the company’s Bridgeport Gas Processing Plant in Texas.  This is the seventh expansion for the facility which handles production from the Barnett Shale.

Devon Energy said the expansion will add 140 million cubic feet per day of processing capacity at a cost of $160 million.  After the expansion is complete, the Bridgeport Gas Processing Plant will be able to handle 790 million cubic feet of natural gas per day, and extract 65,000 barrels per day of natural gas liquids.

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.