Devon to expanded Permian Basin activity

Second quarter earnings were so strong for Devon Energy and Diamondback Energy that the two companies raised production guidance and capital budgets for their activities in the Permian Basin.

Oil & Gas Permits

Wells Drilled

Texas Air Permits

S&P Global reported Devon is raising its full-year 2022 production forecast by 3% to a range of 600,000-610,000 b/d of oil equivalent, owing to better-than-expected well results so far this year and impacts from a bolt-in purchase in North Dakota’s Williston Basin. Earlier in the year, its 2022 production forecast was targeted at 585,000 boe/d.

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