Just because Oklahoma City’s Devon Energy announced intentions in February to sell all of its assets in the Barnett Shale of North Texas doesn’t mean the company has any plans to immediately stop drilling there.
The Houston Chronicle recently reported the company is still drilling for new discoveries in that part of the state.
The Railroad Commission of Texas recently issued Devon a pair of drilling permits for two horizontal wells on the company’s Carter Winford W lease in Wise County. Located about 8.5 miles northeast of Alford, the wells both target the Newark East field of the Barnett Shale geological formation down to a total depth of 9,000 feet.
Devon entered the Barnett in 2002 but the natural gas-rich shale play’s popularity has wanted in recent years following the rise of more economic regions such as the Haynesville Shale, Eagle Ford Shale and Permian Basin.
The Oklahoma City oil company announced in February that it planned to sell its Canadian and Barnett Shale assets by the end of the year. With eight drilling permits received so far this year, Devon remains one of the top drillers in the Barnett Shale.
