Devon Energy Announces Successful STACK Spacing Test and Record-Setting Oil WellDownload
The Alma spacing pilot tested five wells per section across a single interval in the upper Meramec, delivering 30-day production rates averaging 1,400 oil-equivalent barrels (Boe) per day per well, of which 60 percent was light oil. In addition to the strong initial-production rates, early flow-back results from the Alma pilot indicate minimal interference between wells, suggesting potential for tighter spacing in the over-pressured oil window. The Alma wells were drilled with 5,000-foot laterals and were conservatively brought online with a 12/64-inch choke and gradually increased to a 20/64-inch choke.
The Company also recently brought online a record-setting oil well in
the over-pressured oil window in southwest
“The Alma spacing pilot and record-setting Pony Express oil well are
examples of the excellent results we are achieving in the Meramec
formation, which has quickly evolved into the best emerging development
play in North America,” said
Additional Spacing Tests Underway to Optimize 2017 Development Plan
With the Alma test, Devon now has two successful spacing pilots in the core of the Meramec oil window. Production from the two-well Born Free pilot (announced first-quarter 2016) continues to perform exceptionally well, achieving a 90-day average rate of 1,500 Boe per day per well (60 percent oil). The Born Free pilot wells were spaced 400-feet apart and landed in two intervals in the upper Meramec.
The next pilot Devon expects results from is the Pump House test in
To determine the optimal approach for developing stacked-pay intervals in the Meramec, the Company is participating in several additional spacing pilots during the remainder of 2016. The spacing pilots are focused in the over-pressured oil window and are testing up to eight wells per section in a single Meramec interval and evaluating the joint development of multiple stacked-pay intervals through staggered well pilots.
Results from these Meramec spacing pilots will help Devon optimize its master development plan in the over-pressured oil window, where the Company expects to progress into full-field development in 2017.
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; 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
Howard Thill, 405-552-3693
Scott Coody, 405-552-4735
Chris Carr, 405-228-2496
John Porretto, 405-228-7506