Oklahoma 2018

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OKLAHOMA: OVERVIEW | November 2018 | 5 The company had eight rigs and three frack crews running in the Stack at that time. "In the core portion of the play, we'll have the opportunity to develop up to four intervals per spacing unit," he said. "We've accelerated our multi- zone developments in 2018 and are encouraged by our initial results. We expect field-level cash flow to expand by 60% year-over-year with liquids volumes accounting for 80% of revenue in the play." Devon had three projects under development in the Stack. Showboat was testing 12 wells per drilling unit, Horsefly was testing 10 wells and Bernhardt was testing nine wells. As of July the company reported several major improvements in its Showboat and Coyote projects. In Showboat Devon achieved cost savings of about $1.5 million per well with 30% faster drill times compared to previous activity. First production at Showboat was achieved 40 days ahead of plan. In the Coyote project, drilling times were reduced by about 25%, completion costs were cut by about 10% and record flow rates were achieved. The average IP30 was 4,400 boe/d (60% oil). The Meramec is driving strong oil growth with activity concentrated in the overpressured oil win- dow, which has the best returns in the play. "We're minimizing downtime with our decision support centers and enhancing well productiv- ity through workovers, refracks, artificial lift and line-pressure management," Ritenour said. "All these efforts are driving lower per-unit operating cost." Scoop SpringBoard project, Stack moving to oil window "Continental essentially put Scoop on the map," Stark said. "Initially, we were targeting the Wood- ford exclusively. Over time we recognized from drill- ing down to the Woodford that there was potential for the overlying Springer and Sycamore reservoirs. "You don't see a lot of other operators talk about the Springer because we were first movers and leased most of it," he added. Located primarily in Oklahoma's Canadian, Kingfisher and Blaine counties, the Stack has become one of the best emerging development plays in North America. Devon's acreage position includes more than 600,000 net acres by formation. (Photo courtesy of Devon Energy)

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