Devon Energy Corp. believes its net Barnett Shale production will nearly double over the next several years to as much as 2 billion cubic feet equivalents a day, reports SNL Financial investment bankers. With 7,500 risked drilling locations, the company has more than 10 years of drilling inventory in the North Texas shale play. Devon has 36 rigs running and has drilled 1,500 horizontal wells in the Barnett Shale. The company said it plans to drill between 630 and 660 wells in the play during 2008.
In Oklahoma, the company has six rigs drilling in the Woodford Shale. Devon has drilled 79 horizontal wells in the play and plans to drill 120 wells in 2008. "We anticipate continued growth in both areas," Devon spokeswoman Alesha Leemaster told SNL's Toni DeSalvo.
-- Jim Fuquay