Devon Energy Announces 5,100 Boe per Day STACK Well Offsetting Coyote Development
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The Faith Marie 1-H resides directly adjacent to the company’s Coyote
development project in
Well productivity at Faith Marie was enhanced by a new completion design
that improved stimulated rock volume through the systematic cycling of
pressure and fluid rates. The new completion design also lowered well
costs at Faith Marie to
“As we shift to full-field development in the STACK, we expect to
achieve a step-change improvement in capital efficiency and returns,”
said
In the fourth quarter, the company expects to bring online approximately 25 wells in the STACK play that will benefit from the improved completion design. This new well activity will primarily reside in the over-pressured oil window of the play and is expected to increase net production in the STACK to more than 120,000 Boe per day by year end.
Coyote and Showboat Development Projects Progressing
Devon began drilling at its seven-well Coyote development project in September. The Coyote project is immediately adjacent to the Faith Marie well and is targeting the same landing zone in the Lower Meramec interval. The drilling program at Coyote has reached target depth on three wells, with drilling times improving by approximately 15 percent compared to the results of the offsetting Faith Marie well. Devon has three rigs dedicated to the Coyote project with initial production rates expected in the first quarter of 2018.
Drilling also is underway at Devon’s Showboat project in
About
Forward-Looking Statements
This press release contains forward-looking statements within the
meaning of the federal securities laws. Such statements are subject to a
number of assumptions, risks and uncertainties, many of which are beyond
the control of the company. These risks include, but are not limited to:
our ability to replicate the results described in this release for
future wells; the timing and results of the development projects
described in this release; all the other uncertainties, costs and risks
involved in exploration and development activities; and the other risks
identified in the company’s Annual Report on Form 10-K and its other
filings with the
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Source:
Devon Energy Corp.
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