Devon Energy (DVN) reported earnings for the first quarter of 2011 and issued an operations update on its exploration and development activities in the Granite Wash play in Texas. The company has 62,000 net acres under lease with exposure to the Granite Wash.
Devon Energy said that the company put six operated wells onto sales in the first quarter of 2011. These Granite Wash wells had average production of 1,760 barrels oil equivalent (BOE) per day, including 250 barrels of oil and 490 barrels of natural gas liquids per day.
Devon Energy is operating four rigs in the Granite Wash and plans to drill 55 wells in 2011.