Devon Energy sees accelerating growth in Delaware Basin in early FY18
The company states: "In early 2018, production growth has accelerated in the company's Delaware Basin and STACK assets, with current daily rates from these assets approximating 195,000 oil-equivalent barrels per day. The combined daily production rates from these two franchise growth assets represent greater than a 10% increase compared to the fourth quarter of 2017 and nearly a 20% increase compared to the full-year 2017 average. The substantial increase in daily production is driven by higher operated completion activity in the Delaware Basin and tie-in of more than 50 non-operated wells in the STACK around year end. In aggregate, these two high-growth assets remain on plan to increase oil production by greater than 35% in 2018 compared to 2017."