Devon’s operations in the Delaware Basin of west Texas and southeast New Mexico provide both oil and natural gas production from exposure to 670,000 net acres across multiple formations. Horizontal drilling with extended-reach laterals and larger pad developments are being used to unlock the vast resource that still remains in this historic Permian oil and natural gas field.
Devon’s current focus is in the oil-rich Bone Spring, Leonard Shale, Wolfcamp and Delaware Sands formations. This significant inventory of oil and liquids-rich drilling opportunities with multi-zone development provide Devon a platform for future growth.
|Delaware Basin Key Stats|
|Production (2017 net):||56 MBOED (73% liquids)
10% of company
|Reserves (12/31/17):||184 MMBOE
9% of company
|2018e E&P Capital:||$725 million|