Devon Expects Peak Eagle Ford Production of 140,000 boe/d

Eagle Ford Assets Will Be Self-Funding by 2015
Devon Energy Eagle Ford Acreage Map

Devon Energy Eagle Ford Acreage Map – 82,000 net acres | Click to Enlarge

Devon’s Eagle Ford acquisition of GeoSouthern Energy’s assets in the play is on track to close by the end of the first-quarter of 2014.

The company  announced the acquisition of GeoSouthern Energy’s assets in the Eagle Ford oil play in November.

The acquired Eagle Ford acreage includes 82,000 net acres located in DeWitt and Lavaca counties. Devon expects to almost triple production from 53,000 boe/d at the time of the deal to ~140,000 boe/d over the next several years.

Read more: Devon Energy Acquires Eagle Ford Assets from GeoSouthern for $6 Billion

“2013 was a year of strong execution and exciting change for Devon,” said John Richels, CEO. “…… Additionally, we high-graded our portfolio through an accretive Eagle Ford Shale acquisition, an innovative midstream combination, and initiated an asset divestiture program. These actions provide a platform for Devon to achieve attractive high-margin growth in 2014 and for many years to come.”

Devon Eagle Ford Production Estimates

Devon predicts production will grow at a compound annual growth rate of 25% over the next several years, reaching peak production of ~140,000 boe/d. I suspect we’ll see much more than 25% growth in the first few years.

According to the company, the Eagle Ford development program in 2014 will be self-funding and is expected to start generating free cash flow beginning in 2015. Risked recoverable resources in the Eagle Ford are estimated at 400 million boe, of which more than 60% are proved reserves.

Devon Fourth Quarter 2013 U.S. Production

  • Natural Gas – 1.9 Bcf/d
  • Oil – 85,300 bd
  • NGL’s – 122,400 b/d


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Kirk Eggleston

Kirk Eggleston

Contributor at
Kirk Eggleston writes on significant news developments in the Eagle Ford and Bakken Shale plays. He is a former broadcast journalist, and has experience covering news and politics in the Texas and Louisiana markets.


  1. Jefferosn Brewer says:

    Will Devon operate or will BHP be the primary operator?

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