Devon announces 30.7 mmfcd well in San Augustine, TX - Kardell Gas Unit 1H

Huge news from Devon this morning as they have released the IP results of their Kardell Gas Unit 1H well in San Augustine, TX and it came in at a whopping 30.7mmfcd:

Nov. 2 /PRNewswire-FirstCall/ -- Devon Energy Corporation (NYSE: DVN) today announced the results of a successful Haynesville Shale well in San Augustine County, Texas. The Kardell Gas Unit 1H achieved an average continuous 24-hour flow rate of approximately 30.7 million cubic feet of natural gas equivalent per day through a 37/64-inch choke. Flowing pressure was 6,824 pounds per square inch.

Here's a link to the full press report:

http://phx.corporate-ir.net/phoenix.zhtml?c=67097&p=irol-newsAr...


Here's a link to the W-1 permit for the well:
http://webapps.rrc.state.tx.us/DP/drillDownQueryAction.do?fromPubli...


1 mile East of San Augustine in the T. Quirk Survey.

Things are getting all the more intersesting in E.Texas with each passing day.....

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Permalink Reply by Wilma Watts on November 9, 2009 at 1:34
They just said they have 12,000 acres in the SA county. They have a big circle right on the north part of the county saying that is their "Bruin' prospect. And I think they said 12,000 was their 'net acreage'.

So I guess like all minerals some might be worth a lot less if the leases are 20 miles away. But then again, Devon said the Kardell well was 'repeatable' due to the nature of the formation.

A bit much for me to try to digest. Devon is a real good company, good operator, from all I have heard.
Permalink Reply by TJ on December 9, 2009 at 9:07
Is there any mineral leasing going on for the T Quirk Survery at this time?
Permalink Reply by Vicki Briggs on December 16, 2009 at 14:45
Thoughts on what a lease should go for on property adjacent to this find? Devon called and offered $1,000 -- seems way too low.
Permalink Reply by om28v on December 16, 2009 at 15:11
That would be rolling around on the floor funny if it wasn't so pathetically sad. How could they have even said that to you with a straight face?
Permalink Reply by om28v on December 16, 2009 at 15:35
You should tell them that "As soon as I get done with my meeting with XOM.....I mean XTO I will call you and we will talk". Then never take a call or talk to them again. For a while. Really, their guy should get an Oscar for saying that to you without losing it.
Permalink Reply by om28v on December 16, 2009 at 16:22
Fair enough , but it would be better to wait two years than take 1000 per on that. If not an Oscar at least the landman could make the final table on the world poker tour. Call Chesapeak or someone else or all of 'em if your in any hurry, best to wait though. They will come soon.

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