Devon Energy completes prolific well
Energy Editor awilmoth@oklahoman.com
Devon Energy Corp. crews used a new completion design to lower well costs and generate a powerful Blaine County well, the Oklahoma City company said Tuesday.
The Faith Marie 1-H well had a 24-hour initial production rate of 5,100 barrels of oil equivalent per day, including 65 percent oil. The well is the most productive STACK well to date in the Lower Meramec rock layer, Devon said.
“As we shift to fullfield development in the STACK, we expect to achieve a step-change improvement in capital efficiency and returns,” Devon Chief Operating Officer Tony Vaughn said in a statement. “The advancement of Devon’s multi-zone development activity in the STACK coupled with the deployment of our cutting-edge completion design is expected to improve capital efficiencies by up to 20 percent while continuing to deliver best-in-class well productivity in the play.”
The well was drilled with a 9,000-foot lateral at a cost of $9 million, the company said.
In the fourth quarter, Devon is expected to bring online about 25 STACK wells with the new completion design, boosting the company’s net production in the field to more than 120,000 equivalent barrels per day, the company said.
Also on Tuesday, Devon said it is in the process of drilling three wells on its nearby Coyote development project, which is expected to begin producing in the first quarter of 2018 and eventually boast seven wells.
Devon also has begun drilling on its Showboat project in Kingfisher County. The project consists of 24 wells across two drilling units targeting four rock layers. Five rigs are active on the project, which is scheduled to complete the drilling phase by the end of the year.
Tuesday’s announcement continues a trend of monster wells in the STACK. Devon in July said its Privott 17-H well in Kingfisher County had a 24-hour initial production rate of 6,000 equivalent barrels per day. Continental Resources Inc. in December 2016 announced a Blaine County well with an initial rate of more than 4,600 equivalent barrels per day.