Devon is still successful in Oklahoma’s STACK play despite cuts in spending

A day after Oklahoma City’s Devon Energy slashed another $300 million from its 2020 capital expenditures budget, the company reported three sister wells in the STACK play with production of more than 2,500 barrels of oil a day. It sat on the completed wells since last fall and reports weren’t made until this week with the Oklahoma Corporation Commission.

In making its first announced cut of 2020 planned expenditures, Devon stated it intended to reduce drilling efforts in the STACK play and focus more intently on the Permian Basin and the Eagle Ford in Texas. It is unknown publicly if Devon has any remaining completed wells in the STACK play that have yet to be reported to regulators.

The Pickaroon 11_2-15n-10w wells were drilled and completed at 11 1N 10W or about eleven miles southeast of Watonga in Blaine County. The largest producer, with 1,063 barrels of oil a day and 2,912 Mcf of natural gas had a May 2019 spud date and drilling finished in the same month. Completion was made in September 2019 from a depth of 20,160 feet in the Mississippi Solid formation.

The second Pickaroon well produced 664 barrels of oil a day and 2,459 Mcf of natural gas. Its spud date was in April 2019 and completion was made in September from a depth of 20,418 feet in the same Mississippi Solid formation.

The third Pickaroon well, drilled on the same slab site produced 797 barrels of oil daily and 2,217 Mcf of natural gas from a depth of 20,007 feet in the same formation. It had a May 2019 spud date and drilling finished in June followed by the September completion.

Total production from the three wells was 2,524 barrels of oil a day.