A little more insight to Devon Energy plans for this...

A little more insight to Devon Energy plans for this year.


03/29/2012


Devon Energy - Permian Basin Update - March 2012



Devon Energy (DVN) has an aggressive development program planned for the Permian Basin in 2012. Here is a summary of its position and planned activity:

Permian Basin Position

• Acreage – more than one million acres under lease.
• Net production - 53,000 barrels of oil equivalent (BOE) per day in the fourth quarter of 2011.
• Liquids Composition - 75% liquids.
• Proved reserves – 189 million BOE.
• Net risked resource – greater than 1.5 billion BOE
• Risked locations – More than 3,500

2012 Plans

• Operate nineteen rigs.
• Capital expenditures - $1 billion
• Drilling Program – 300 wells
• Wolfberry- 160,000 net acres – drill 100 wells in 2012.
• Bone Spring/Delaware - 185,000 net acres – drill 115 wells in 2012.
• Wolfcamp Shale Oil - 92,000 net acres – drill 30 wells in 2012.
• Conventional activity – 75 wells in 2012.