I'm surprised that we haven't seen an update from RFE about the Devon Woodford shale wells that we are JV'ing.
They did get a mention in Devon's recent quarterly update and results look strong:
"Third-quarter activity was highlighted by results in the Woodford Oil Shale. Devon brought 10 Woodford wells online within its joint-venture acreage with initial 30-day production rates averaging 535 Boe per day, exceeding the company’s type curve expectations."
I'm assuming that the mentioned wells are those that RFE is participating in due to the timing mentioned in RFE's earlier Woodford announcement and the fact that Devon have said that the are initially targeting counties that are shared with RFE.
If results like the above can be consistently replicated then I can see RFE moving capital spend to the Woodford in the not too distant future.
RFE Price at posting:
36.5¢ Sentiment: Buy Disclosure: Held
