Devon Energy

When engineers went searching for clues on how fractures move beneath the surface, they expected to uncover important learnings. They did not know they were on the path to a new invention.

Devon exits the asset that served as the company’s cornerstone for almost two decades and is known to the world as the birthplace of the shale revolution.

Under the agreement, the Oklahoma City independent will monetize half of its working interest in 133 undrilled locations in the form of a $100-million drilling carry during the next 4 years.

If you can see it, then maybe you can control it. This sums up the latest quest that the unconventional engineering community embarked upon to get a better understanding of proper well spacing and how fractures really interact.

Devon Energy announced that it plans to lower detectable emissions at its US production sites by at least 12.5% in 6 years.

Devon Energy and its debt gets smaller, as Canadian Natural Resources adds to its huge, long-term bet on Canadian heavy and ultra-heavy crude.

A growing sector of water midstream companies is in the Permian Basin looking to take advantage of a business opportunity borne out of rising produced water volumes. Billion-dollar valuations for these companies in the near future could become a reality.

With new digital platforms and technologies driving the industry in the near future, organizations are examining the ways in which their established work flows may help or hinder their ability to adopt and adapt.

The technical challenges imposed by tight well spacing and fracture interactions have become a focal point of recent earnings calls between investors and the leaders of several shale producers. The picture of the future is becoming clearer, and there are fewer oil wells in it.

Devon Energy will be getting simpler and smaller by selling two no-growth assets—gas acreage in the Barnett Shale in Texas and oil sand operations in Canada. Its future is staked on growing oil production in the Permian’s Delaware Basin and three other unconventional oil plays.