Devon Successfully Drills Kardell Well In Texas
OKLAHOMA CITY (AP) ¿ Independent oil and gas producer Devon Energy Corp. on Monday said it successfully drilled a Haynesville Shale well in San Augustine County, Texas.
The Kardell Gas Unit 1H well achieved an average continuous 24-hour flow rate of about 30.7 million cubic feet of natural gas equivalent per day.
"With a flow rate of more than 30 million cubic feet per day, we believe the Kardell well is the highest rate well ever drilled in the Haynesville Shale," said David Hager, executive vice president of exploration and production.
Devon owns a 48 percent working interest in the well, which was drilled 18,350 feet deep. Crimson Exploration Inc. owns the remaining 52 percent working interest.The Kardell well is the company's first well in San Augustine County. Its success prompted plans to accelerate drilling activity in the area, the company said. Devon's southern Haynesville Shale acreage is made up of 47,000 net acres mainly located in the Texas counties of San Augustine and Sabine and in Sabine Parish, La. Devon holds a 100 percent interest in its primary term leases in the southern area.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV