Devon Energy Corp. expects to increase net production in its Oklahoma STACK development to more than 120,000 boe/d by yearend, bringing an estimated 25 wells online in the fourth quarter.
The operator’s Faith Marie 1-H is the most recent well completed and Devon reported the well produced a 24-hr peak rate of 5,100 boe/d. The well’s 9,000-ft lateral is projected to produce a 30-day average of 4,600 boe/d, 65% of which is oil.
The company said the Faith Marie’s productivity is the highest of any STACK well to date targeting the Lower Meramec interval. Devon has introduced new completion design that uses a higher viscosity slickwater fluid system and increases in frac-stage length. The new design lowered well costs at Faith Marie to $9 million, Devon said.
Devon Chief Operating Officer Tony Vaughn said the company could “improve capital efficiencies by up to 20%,” as it shifts to full-field development in the multizoned STACK play with its enhanced completion design.
Faith Marie is adjacent to the company’s Coyote development project in Blaine County, Okla., where the company launched a seven-well drilling program in September. The Coyote development is targeting the same landing zone in the Lower Meramec, and three wells have landed in zone with about a 15% improvement compared to offsetting the Faith Marie well. Devon has three dedicated rigs in the Coyote project and plans to announce initial production rates in the first quarter 2018.
The company’s first multizone development in the STACK is under way in neighboring Kingfisher County at its Showboat project, which consists of 24 wells across two drilling units and is codeveloping four intervals. Five rigs are expected to complete the drilling phase by yearend.
The Showboat development is offset by the Privott 17-H well, which was completed in July. The well landed in the upper Meramec with a peak rate of 6,000 boe/d (OGJ Online, July 11, 2017). Devon said it expects to test initial production rates at Showboat in second-quarter 2018.
Contact Tayvis Dunnahoe at [email protected].