Landowner Rights Denied By Moratorium      NY: 5 Years, 8 Months | DRBC: 4 Years, 11 Months

Author Topic: Devon activity  (Read 25023 times)

bronco 1

  • Posts: 53
Re: Devon activity
« Reply #225 on: April 26, 2013, 09:48:17 AM »
The potash is also held in the salts. Beckmen rig is at the Yonkman well now

Mcjmj

  • Posts: 14
Re: Devon activity
« Reply #226 on: May 29, 2013, 06:59:05 PM »
Does anyone know if Devon has restored any of the existing plugged well pads.

hobojo

  • Posts: 567
Re: Devon activity
« Reply #227 on: June 03, 2013, 02:15:49 PM »
Mcjmj.......went past the Wiley well Sec. 18,Grout Twp. Gladwin Co. this afternoon. Appears that the pad restoration started this morning. Lots of equipment and dirt being moved around.

edwards

  • Posts: 221
Re: Devon activity
« Reply #228 on: June 11, 2013, 07:40:02 PM »
Trying to put this all in perspective.

6-10-2013. Devon Energy announces Senior Management Appointments. David Hager, 56, to COO from Executive  VP, Exploration and Production from 2009.
Tony Vaughn, 55, to Executive VP Exploration and Production from Senior Exploration and Strategic Services. He will be responsible for all of Devon"s oil and natural gas exploration, drilling, and production operations in the future.

A quick trip back to Analyst Day 2012 presentation. 5 JV Plays, mostly unconventional, with SINOPAC- USA,. Total of 1.5 million acres, planned 2011-12 drilling activity- 125 wells, Unrisked resources to Devon -4,770 MMBOE, first month production rate- 571-680 BOE/D(average of all 5 venture partners), Estimated % liquids -77%. 

2012 Devon Annual Report.  No mention whatsoever about 3 of the 5 JV Exploration plays which SINOPAC paid Devon 2.5 Billion dollars. (Michigan, Utica Ohio, Tuscaloosa). 1/2013 - Ohio Utica and Tuscaloosa acreage for sale via Scotia Waterous. Michigan accumulated  acreage which is probably north of 500,000 to 1,000,000 acres sits there quietly recorded, waiting.

C'mon Devon. Hey Hager and Vaughn. You guys got big promotions. Tell us what you did to deserve them. Tell us what Michigan means to Devon!


edwards

  • Posts: 221
Re: Devon activity
« Reply #229 on: July 11, 2013, 08:49:22 PM »
Devon July 2013 Investor Presentation.

DVN_JulPres(1)pfd-AdobeReader  or Devon Investor Relations- July 2013 Presentation.   

Appendix A.  Strategy and Operations. Slide #44, Sinopac Joint Venture showing all 5 regions.

Appendix C.  Supply and Demand. Harbinger of things to come? Future pipeline, refining, coal
                    retirement / natural gas demand. Also, LNG projects in the U.S. and Canada with
                    approximate dates of completion.

hobojo

  • Posts: 567
Re: Devon activity
« Reply #230 on: July 12, 2013, 04:38:41 AM »
Slide 3 tells me what their future plans for Michigan are. For those who leased with Devon and took their money, should have no regrets. For those who had the opportunity, but didn't...........

edwards

  • Posts: 221
Re: Devon activity
« Reply #231 on: September 18, 2013, 07:19:49 PM »
July 2013.   Devon Energy sells it's stake in 277,000 acres in Tuscaloosa Marine Shale to
                  Goodrich Petroleum Corp (Houston, TX)

Sale price was $26.7M. Formation was one of five Devon Energy put together in JV with
Sinopac US. Devon spent $50M to acquire leases and another $119M to drill 7 wells.($17M
per well). Total investment by Devon $169M.

Words used to describe Devon's activity in the Tuscaloosa; "Dumbfounded" and "Baffling".

Devon's problems in this formation:

1. Didn't drill the horizontal sections of it's wells in the most productive layer of the
    formation which is 100-250 feet thick.
2. Didn't use as much proppant, which keeps the fractures open, as it should have. Used
    91,000 - 317,000 lbs. of proppant for each section of well fracked. EnCana, also in
    Tuscaloosa, used up to 1M lbs. of proppant per stage.

Goodrich Petroleum, in a well (Crosby) that had a 30 day production of 1137 bbls. oil per day,
used 450,000 lbs. of proppant per stage.

Devon still has 244,000 acres of Ohio Utica Shale in Eastern Ohio for sale with Scotia Waterous.
This acreage has been on the market since early 2013.

Devon still retains 400,000 + acres in the Michigan Basin after drilling a handful of exploratory
wells. 

ranchland

  • Posts: 172
Re: Devon activity
« Reply #232 on: September 19, 2013, 08:52:24 PM »
Well, I guess there's some value in knowing "what doesn't work" in the early years of the horizontal drilling/fracking techniques. Seems like they would accidentally do the right thing eventually. Seems other companies are "getting lucky" with greater frequency.
On your mark, get set, get set, get set, get set....

edwards

  • Posts: 221
Re: Devon activity
« Reply #233 on: October 01, 2013, 08:15:12 PM »
Can now put plugging dates on 6 Devon wells care of MDEQ/OGS.

Cronk 1-24 HD1 Gladwin  7/02/2013     Termination Date:  1/10/2014

Wiley 1-18 HD1  Gladwin  6/24/2013     Termination Date: 7/14/2013

Schick 1-7 HD1   Clare     2/18/2013     Termination Date:  9/24/2013

State Richfield 1-34 HD1  Roscommon  6/30/2013     Termination Date:  2/04/2014

David's Acres, LLC 1-19 HD1  Ogemaw  6/27/2013    Termination Date:  1/14/2014

Yonkman 1-29 HD1  Missaukee   7/15/2013   625 Test well.


Wynalda 1-20  well in Mecosta County.   12/16/2012 signed;  2/01/2013 recorded.  Tiptop assigned  back to Devon -  2 leases : 13N-8W Sec. 20, which are the mineral rights where well drilled.

Some additional assignments/agreements between Devon and Tiptop in Bay County (9/18/2013)

9/30/2013  Assignment in Arenac County, 40 leases from Devon to Tier (probably ORRI).

Most of Devon's leases in Michigan are 5/5's so they could be involved here years down the road
but their actions so far in 2013 seem to indicate they are no longer as interested in MI as they
once were.










hobojo

  • Posts: 567
Re: Devon activity
« Reply #234 on: October 02, 2013, 05:31:35 AM »
Add the Greer 1-9 Gladwin Co. test/Richfield to complete the 100% Michigan failure. However they left this location as a field of Sunflowers.......actually quite pretty to look at.

pyro-1955

  • Posts: 762
Re: Devon activity
« Reply #235 on: October 02, 2013, 05:53:06 AM »
I still can not completely understand what Devon did.  Just looking at the well logs for Dman's well, the log shows oil, pretty clearly, yes they drilled thru a fault and got stuck in the salt, but they easily could have plugged that horizontal and re-drilled away from the fault and had a good well.  Someone is playing games here, I am positive they will not let that lease lapse.  Not sure of the length of lease or what the renewal's are setup on that acreage, but Someone will very likely be re-drilling there before the lease expires.  All the restructuring games and the fact that they were using China's dollars to explore makes me think they are just waiting to eliminate the Chinese interests before finalizing???

ranchland

  • Posts: 172
Re: Devon activity
« Reply #236 on: October 02, 2013, 06:12:09 AM »
Are any of the horizontal wells drilled into the deeper formations producing? At all? Seems like the potentials are shut in. Just wondering if ANY of them are putting out gas/oil/liquids?
On your mark, get set, get set, get set, get set....

pyro-1955

  • Posts: 762
Re: Devon activity
« Reply #237 on: October 02, 2013, 07:12:40 AM »
Not sure, maybe some of the Encana wells?  From what I have seen, the horizontals take skill and experience to do them right, the smaller companies have not had enough experience with them yet apparently. 

edwards

  • Posts: 221
Re: Devon activity
« Reply #238 on: October 21, 2013, 03:22:11 PM »
A number of recordings recently in counties where Devon - Tiptop have leases. For example, Mecosta had 7 recordings on 10/2/2013 between Devon and Tiptop. 110 leases in 4 assignments and
3 agreements. In Roscommon, 63 additional leases were assigned to Tiptop on 9/30/2013,
and 3 agreements were filed. The same thing occurred in Arenac on 9/30/2013, 40 additional
leases assigned. Bay, Oscoda, Gladwin, possibly others had the same series of filings.

The same thing occurred in some Ohio counties where Devon - Tiptop have the same arrangement as Michigan. Multiple recordings in September and October, always assigning leases  and agreements, sometimes referencing the Memorandum of Development Agreement. Don't know if this indicates
anything different with regards to Devon - Tiptop Joint Venture.

Also noticed in Guernsey County that Devon Energy was assigned leases in 2013 from 3 different
Chesapeake companies. All Devon Ohio Utica Shale acreage had been for sale through Scotia Waterous
since early 2013, but recently noticed the offering was no longer listed. Either sold or off the market.

Loomis Law from Michigan handles some/all of Devon Energy's legal business in Ohio.

Totally unrelated to Devon Energy.  Guernsey County , Ohio records show a mortgage in an amount
not to exceed $500,000,000 from Wilmington Trust, National Association to American Energy-Utica,
backed by 600+/- leases and properties held by American Energy-Utica. Deal signed by American
Energy CEO; Aubrey K. McClendon, dated 9/30/2013.
.

pyro-1955

  • Posts: 762
Re: Devon activity
« Reply #239 on: October 22, 2013, 07:31:50 AM »
This appears to indicate Aubrey's intentions......  Looks like he's back in the Utica for sure.

http://www.rigzone.com/news/oil_gas/a/129511/ExChesapeake_CEO_McClendon_Raises_17B_to_Drill_in_Utica_Shale

 


Donations

We work on this project completely in our spare time. Donations help go towards ongoing costs related to keeping the site running, including hosting, bandwidth, etc. It also encourages us to commit regular updates, add features, and improve the service.

It isn't required of course, but if you find this site useful, you can donate using the PayPal button