Enverus Blog

Insights across the energy value chain

Devon Energy discussed their production results/plans in their 3Q2010 Earnings Call.  Devon has produced 5.3 million cubic feet equivalent per day through this quarter including an average of 175 barrels of NGLs and condensate. Net production from Cana has averaged a record 117 million cubic feet of gas equivalent per day, including 1,300 barrels of condensate per day and 4,000 barrels of NGLs. Devon hopes to produce more than 250 million cubic feet equivalent per day by the end of 2011 including an increase to 14,000 barrels per day of condensate and NGLs.

Since the Cana field has such a large liquids-rich portion, a gas processing facility has been constructed and will begin operation next month. The plant is capable of processing 200 million cubic feet per day while extracting up to 15,000 barrels of NGLs per day. The overall processing capacity can be expanded to 600 million cubic feet per day as volumes from the field grow.

Below you can see a map that was created in DNA that shows the increase in drilling of production wells in the Woodford play from 2003-2010. The highlighted wells are those from just this year.

 

This second map is of the permits in the Woodford play in the last month. A histogram on the side displays the number of permits issued during the last month.

 

It’s easy to see that Devon has beefed up their production in the Woodford play, especially since gas prices are the way they are right now. With this liquids-rich portion coming from the Woodford play, expect a movement of heavy production to this area.

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Matt Menchaca

Matthew Menchaca is a Research Analyst at Drillinginfo. He is a key member of the Data Management Department and the DI Analytics group. He performs industry research, tracks play development and provides various types of analysis on unconventional resource plays in the U.S. Matthew graduated from the University of Texas at Austin in 2010 after studying Geography and Geological Sciences.