A newly-completed $9 million Devon Energy well in Blaine County is producing a whopping 5,100 oil-equivalent barrels a day, according to an announcement by the Oklahoma City energy company.
The Faith Marie 1-H is producing the highest oil productivity of any STACK well to date targeting the Lower Meramec interval said the company. The firm indicated the projected 30-day rate for the 9,000-foot lateral well is 4,600 Boe per day.
The huge well is immediately adjacent to Devon’s seven-well Coyote development project which started in September. Three rigs are dedicated to the project with production expected to begin in early 2018.
Devon said the well productivity was enhanced by a new completion design that improved stimulated rock volume through the systematic cycling of pressure and fluid rates. Despite the $9 million cost, the company indicated costs were actually lowered because of the new completion design which included increases in frac stage length and the use of a higher viscosity slickwater fluid system.
“As we shift to full-field development in the STACK, we expect to achieve a step-change improvement in capital efficiency and returns,” said Tony Vaughn, chief operating officer. “The advancement of Devon’s multi-zone development activity in the STACK coupled with the deployment of our cutting-edge completion design is expected to improve capital efficiencies by up to 20 percent while continuing to deliver best-in-class well productivity in the play.”
As Devon moves into the fourth quarter, it anticipates bringing another 25 wells online in the STACK. The new well activity is also expected to increase net production for Devon in the STACK to more than 120,000 Boe per day by the end of the year.
Devon also indicated drilling is underway in its Showboat project in Kingfisher, the firm’s first multi-zone development in the STACK. It consists of 24 wells across two drilling units. Five rigs are being used in the Showboat project and the drilling phase is expected to end by the end of the year. Initial production rates are not expected until the second quarter of 2018.