Devon Energy has a large position in many of the popular shales and the Woodford Shale in Oklahoma is no different. They have a combined 167k net acres and 285 producing wells in the play and its divided into two disctinct areas, the Cana and the Arkoma. Below is a map generated from Drillinginfo detailing the two areas of the Woodford. Devon will drill about 80 wells in each area in 2010. They have produced greater than 270 Bcf from the Arkoma Woodford, and about 36 Bcf from the Cana Woodford.
Devon stated at the Credit Suisse Energy conference that they are still actively acquiring acreage in the Cana and that they are a first mover in the area. When you compare the type curves of the two areas you can see why Devon is so excited about the Cana section. The Cana type curve has twice the peak gas and also has a significant liquids component. Of course the fact that the Cana is more recent than the Arkoma and therefore benefits from beginning further down the learning curve may play a hand in the much greater peak gas. Today’s price differential makes the liquids rich gas stream of the Cana that much more profitable.
For more information on all things Woodford, check out the Drillinginfo Woodford Unconventional Update.
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