Devon Energy is planning to keep its 12 drilling rigs in the Barnett Shale despite low natural gas prices, which have prompted Chesapeake Energy to reduce drilling operations in the area. Instead, the company will focus its activities on areas that are rich in natural gas liquids such as propane, said company spokesman Chip Minty. "The economics of those wells are far superior to the economics of dry gas wells right now. We're focusing all of our drilling in areas where liquids are prominent," Minty said.

Related Summaries