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Devon exploring new Oklahoma oil play

Devon Energy Corp. is drilling in northern Oklahoma to identify the acreage with the best potential among its holdings there.
BY JAY F. MARKS Modified: January 22, 2014 at 6:00 pm •  Published: January 21, 2014

It has not released its plans for this year.

Reporters get tour

The company offered reporters a tour of some of its operations Friday.

Devon is drilling five wells on one pad east of Perry.

Four of those will target the Woodford formation, while the other is a disposal well.

Mark Matalik, a drilling engineer supervisor, said Devon is leveraging its expertise in other shale plays to make its operations in the area more efficient.

He said the company drilled its first well there in June 2011, so it is still learning about the area.

Devon is gathering 3-D seismic data to help map the best places to drill, Matalik said.

Hager said Devon has de-risked about 100,000 net acres in the Woodford, but officials are optimistic that number will grow.

The company has identified the Woodford as an emerging oil play in its portfolio like its holdings in the Rockies.

Devon's focus is on five core oil- and liquids-rich areas spanning North America, from its new holdings in southern Texas to Canada's oil sands.