Devon's operations in the Delaware Basin of West Texas and Southeast New Mexico provide the company with both oil and gas production. The Delaware Basin covers roughly 10,000 square miles and is part of the larger Permian Basin. This area was the source of some of the earliest oil and gas discoveries in the United States and today horizontal drilling and other technological advances are being used to unlock the vast resource that still remains.
Although Devon's presence in the Delaware Basin dates back many years, the area continues to offer exploration and low-risk development opportunities from many geologic reservoirs and play types. This includes the company's current drilling focus in the oil-rich Bone Spring, as well as opportunities in the Delaware, Wolfcamp and Leonard formations. This significant inventory of oil and liquids-rich drilling opportunities provide Devon a platform for future growth.
|Delaware Basin Key Stats|
|Production (2016 net):||60 MBOED (74% liquids)
10% of company
|Reserves (12/31/16):||108 MMBOE, (75% liquids)
5% of company
|2017e E&P Capital:||$700 million|