Capex Data
Devon forecasts proved reserve additions of 390 million to 410 million Boe in 2008. Drill-bit capital for 2008 is forecast at $6.1 billion to $6.4 billion.
Future Plans
Primary Goals
• Exploring for undiscovered oil and gas reserves,
• Purchasing and exploiting producing oil and gas properties,
• Enhancing the value of our production through marketing and midstream activities,
• Optimizing production operations to control costs, and
• Maintaining a strong balance sheet.
Production in 2008 is expected to total 251 million to 258 million Boe. Based on the midpoints of the forecast ranges, this represents 10 percent year-over-year production growth. Production growth in 2008 is expected to include additional contributions from U.S. onshore properties as well as a full year of production from Merganser, Polvo and Devon's Jackfish thermal oil sands project in Canada. Devon expects similar production growth in 2009 with production of 270 to 285 million Boe.