Devon's Webcast 1/19/2010
Just listened to Devon's Webcast. I only paid close attention to the part that was about the HS. Here's what I got from it, YMMV.
They consider this two areas 1) Carthage Area 2) South Area
Carthage= Harrison, Panola, Shelby and some more west of these
South Area= Nac, San Augustine, Sabine, Sabine Parish
Carthage Area-mostly de-risked @ 110k acres with low cost ( $2800 average + 19% royalty burden). He talked about lower royalty being the most important.
The map appeared maybe a little dated, and said 8 wells to date, 2009=10 wells, 2010= 15 wells.
South Area- early stages of de-risking @ 47k acres ( no mention of costs ) but.............
Over 100 wells planned in the next two years with 50 planned for 2010 ( so 50ish more in 2011? )!!!!!!!!!
Thats the way it read and sounded to me. There were little yellow dots all over Sabine county on the slide ( #23 ) as well, a blob map that included most all of the upper 3/4 of the county, if not more, the best I could read it (it was tiny). The well count for "over 100 planned wells" was on the South Area blob map, not he Carthage Area one. A good call IMO for all of us!
They consider this two areas 1) Carthage Area 2) South Area
Carthage= Harrison, Panola, Shelby and some more west of these
South Area= Nac, San Augustine, Sabine, Sabine Parish
Carthage Area-mostly de-risked @ 110k acres with low cost ( $2800 average + 19% royalty burden). He talked about lower royalty being the most important.
The map appeared maybe a little dated, and said 8 wells to date, 2009=10 wells, 2010= 15 wells.
South Area- early stages of de-risking @ 47k acres ( no mention of costs ) but.............
Over 100 wells planned in the next two years with 50 planned for 2010 ( so 50ish more in 2011? )!!!!!!!!!
Thats the way it read and sounded to me. There were little yellow dots all over Sabine county on the slide ( #23 ) as well, a blob map that included most all of the upper 3/4 of the county, if not more, the best I could read it (it was tiny). The well count for "over 100 planned wells" was on the South Area blob map, not he Carthage Area one. A good call IMO for all of us!
Views: 15
Replies to This Discussion
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Permalink Reply by Austin Eudaly on -
om28v,
That last link for the Devon presentation is not coming through. Any chance you could re-post it.
Thanks -
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Permalink Reply by om28v on
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I listened to the webcast again and Devon president John Richels was for sure saying that the "over 100 wells in the next couple of years" were going to be in the "South Area" . He said they started in the "Carthage Area" because they got the land cheap a while back, there was infrastructure present, and it is shallow. He said it is off to the South now to de-risk and hold the area by production. That map ( I believe it's page 13 on the pdf ) is very small, but after looking at it as hard as i can appears to include at least the upper half of Sabine County. He did say all three counties (Nac, S. A., Sabine) and Sabine Parish. The webcast is still up @ DevonEnergy.com if you click on investor relations.
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