Devon Energy holds 90,000 net acres in the Eagle Ford and produced 75 MBOED in Q4 2024, making up 11% of its total production. The company is taking full operatorship of the Blackhawk Field in April 2025 to improve returns and lower well costs, especially in DeWitt County. For 2025, Devon plans to reduce its rig count from 4 to 2 and spend $0.5 billion on capital in the region.

Devon Energy made several key points about the Eagle Ford in their February 2025 investor presentation:

Asset Overview

Net Acreage: 90,000 net acres primarily in Karnes, DeWitt, Gonzales, Goliad, and Wilson counties.
Production: In Q4 2024, the Eagle Ford accounted for 11% of Devon’s total production.
Production Mix:
- Oil: 54%
- Gas: 23%
- NGLs: 23%
Volume: Production declined slightly over the year, ending Q4 2024 at 75 MBOED.

💼 Operations & Strategy

Devon dissolved its partnership in the Blackhawk Field, with the transaction expected to close by April 1, 2025.
This move gives Devon full operatorship, which they believe will boost returns and deliver material per-well drilling and completion (D&C) cost savings, especially in DeWitt County.

📉 Capital & Drilling Plans

2024 Activity:
- Operated rigs: 4
- Wells online: 103
- Capital spend: $0.6 billion
2025 Plan:
- Operated rigs: 2 (reduced from 4)
- Wells online: ~80
- Capital spend: $0.5 billion