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Article: Devon continues moves into new areas in Gulf states, Canada.
- Article from:
- Natural Gas Week
- Article date:
- May 9, 2005
- Author:
CopyrightCOPYRIGHT 2005 Energy Intelligence Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The Barnett Shale of North Texas clearly forms the cornerstone of Devon Energy's North American gas business, but the company is also moving full steam ahead in other areas such as East Texas, Canada and the Gulf of Mexico.
During an update on first-quarter operations last week, Devon President John Richels said the company recently added a fifth rig to its operations in the Carthage area of East Texas where it plans to drill 84 wells this year, up from 64 in 2004.
Net production at Carthage amounted to just under 200 MMcf/d during the first quarter, up 22% on the same period of last year and some 4% higher than in the final quarter of last year.