Niobrara Shale

Devon Energy Reports Recent Niobrara Activity

Devon Energy (DVN) reported the results of a recent well drilled and completed in the Niobrara play on its acreage.  The company said that the Waterbuck 2342 was drilled into the Turner Formation and produced an average of 427 barrels of oil equivalent per day during the first 22 days of production.

Devon Energy has acreage prospective for the Niobrara in both the Denver Julesburg and Powder River Basin. The company plans to exit 2012 with 35 total wells drilled into the Cordell, Mowry, Frontier and other formations.

Devon Energy Drilling First Niobrara Wells In DJ and Powder River Basins

Devon Energy (DVN) reported on its operations in the Powder River and Denver Julesburg Basins during the second quarter of 2011, where the company is developing the Niobrara formation. 

Devon Energy is currently drilling the company’s first horizontal wells in these basins.  In 2011, the company plans to drill six Niobrara wells into the Powder River Basin and four into the Denver Julesburg Basin.

Devon Energy made some comments during the second quarter of 2011 conference call on the Niobrara in the Powder River and Denver Julesburg Basins:

“The ability of the reservoir to be fractured is probably the biggest risk that exists up in the Powder River Basin, and as we and others drill more, we'll learn more about that. But we think overall it will work, but that's probably the biggest risk that sits out there.”

“In the Denver Julesburg Basin, you probably have a little bit more chalk in those, which would give you greater confidence that the Niobrara’s going to be brittle and will fracture easier, so we think that's certainly a positive.”

Devon Energy Discloses Niobrara Shale Position

Devon Energy (DVN) disclosed in an interview with Reuters that the company has a position in the Niobrara Shale, located in Colorado and Wyoming. The company would not disclose any further details but said that it was a “promising play.”

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