Production for the third quarter averaged 614,000 oil-equivalent barrels (Boe) per day, exceeding guidance by 2 percent. This performance was driven by the company’s Delaware Basin asset that accounted for nearly 70 percent of total production.
Devon Energy Corp. (NYSE: DVN) announced today it has entered into a definitive purchase agreement to acquire Validus Energy, an Eagle Ford operator, for total cash consideration of $1.8 billion. The transaction is subject to customary terms and conditions and is expected to close at the end of the third quarter of 2022, with an effective date of June 1, 2022.
Devon Energy Corp. announced it has entered into a definitive purchase agreement to acquire the leasehold interest and related assets of RimRock Oil and Gas, LP, a Warburg Pincus portfolio company, in the Williston Basin for total cash consideration of $865 million.
Devon Energy deploys mobile sand mine in the Permian Basin. Download Devon wells drilled report.
Devon Energy’s first-quarter earnings report was so strong with $1 billion in net earnings or $1.48 per diluted share that the Oklahoma City-based company announced a 27% increase in its quarterly dividend along with another share buyback plan.
Devon Energy’s latest big discovery in the STACK play of Oklahoma is a Blaine County well with production of nearly 1,100 barrels of oil a day.
Oklahoma STACK and SCOOP plays yielded some big producers in recent months for Marathon Oil and Devon Energy.
Devon, as the operator already prioritizes drilling rigs that either can connect to high-line power or have dual-fuel motors suitable for compressed natural gas, liquefied natural gas or field gas.
Devon for now is focused on producing better and less carbon-intensive barrels, particularly from the Permian Delaware
Devon said the top operating highlight for 2021Q1 was the Danger Noodle project in Lea County, N.M., targeting multiple intervals in upper Wolfcamp with average 30-day production rates of 5,100 boed per well
