Oklahoma City-based Devon Energy said recently that production averaged 420,000 boed (50 percent oil) in 2023Q2 in Delaware Basin. Devon operated 16 rigs and four completion crews in Delaware in 2Q resulting in 76 gross wells placed online, including the 11-well Mule development in Eddy County, N.M. Early production from six wells targeting Wolfcamp B averaged more than 3,100 boed (44 percent oil) with EURs (estimated ultimate recovery) of more than 2 million boe.
Devon said its oil production in 2Q averaged 323,000 b/d for an increase of eight percent from 2022Q2. Devon said Aug. 1, “This record-setting oil volume performance was driven by the company’s Delaware Basin asset and accretive bolt-on acquisitions that closed in second half of last year.” Total production in 2Q was 662,000 boed from assets in Delaware, Eagle Ford and three other basins.
Rick Muncrief, president and CEO, said, “One of our key accomplishments was the record-setting oil production we delivered, which was supported by strong well productivity in the Delaware Basin as well as efficiency gains that compressed project cycle times. These efficiencies allowed us to bring forward activity ahead of plan and build operational momentum… The trajectory of our business also sets us up for a strong outlook in 2024.”