The Barnett Shale, located in the Fort Worth Basin of North Texas, kicked off shale gas production in North America and continues to be one of the largest natural gas fields in Texas. The Barnett Shale is a “tight" reservoir that does not allow gas to flow freely to the well bore. Hydraulic fracturing is required to release the trapped gas. After acquiring a substantial position in 2002, Devon was the first to apply horizontal drilling techniques in the Barnett, further enhancing production and transforming the Fort Worth Basin into one of the top producing gas fields in North America.
By virtue of its first mover position, Devon has acquired the largest and arguably the best acreage position in the play. Since 2002, the company has drilled more than 5,000 wells into the Barnett Shale. Today, the company has shifted its focus to enhancing existing well performance through re-fracturing, artificial lift and line pressure reduction projects.
|Barnett Shale Key Stats|
|Production (2015 net):||
182 MBOED (27% liquids)
27% of company
|Reserves (12/31/15):||841 MMBOE (25% liquids)
39% of company
|2016e E&P Capital:||$25 MM|