Devon Energy sees oil growth acceleration driven by Permian, Powder River basins

摘要

Devon Energy expects oil growth driven by drilling in Texas' Permianand Wyoming's Powder River basins to accelerate in the second half ofthe year as the company focuses more on crude production and lesson natural gas, the company said Wednesday.Oklahoma City-based Devon is currently in the process of sellingtwo legacy assets-its Canadian oil sands and a large position in theBarnett Shale natural gas play in North Texas-to position itself aslargely a US unconventional oil and liquids producer.Devon raised its oil output guidance to 17% for 2019, excludingassets held for sale, over last year's 122,000 b/d for retained assets. Itearlier projected a 15% production increase on the year.The company expects to close on the asset sales by year-end.Once those assets are sold, Devon will focus its attention around fourkey plays in the Permian in West Texas and New Mexico; the PowderRiver Basin in Wyoming; the Eagle Ford Shale in South Texas; and theSTACK play in Oklahoma.