Devon Energy Corp. said that as of the end of June it has produced 1 Tcf of natural gas from the Barnett Shale formation in East Texas, a significant milestone since it purchased Mitchell Energy & Development in 2002.

“Reaching 1 Tcf of cumulative production demonstrates Devon’s ability to identify and develop one of the world’s most prolific unconventional gas resources with speed and efficiency,” said Stephen J. Hadden, senior vice president of exploration and production. “Devon has increased production from about 350 MMcf/d in early 2002 to more than 570 MMcf/d today.

“It is also notable that when Devon acquired the Barnett Shale assets in 2002, we booked gas equivalent proved reserves of about 1.9 Tcf,” he said. “In spite of the significant production we have realized from the Barnett to date, we have more reserves booked today than when we acquired it.”

Since its entrance into the Barnett Shale with the Mitchell Energy purchase in January 2002, Devon has drilled more than 1,000 wells in the area, which is primarily located in the Fort Worth Basin in Denton, Johnson, Parker, Tarrant and Wise counties. Devon currently operates 1,830 wells in the Barnett Shale and continues to actively expand its position with 18 rigs currently running. Horizontal drilling and other technologies have allowed the company to extend the productive boundaries of the field well beyond the core area originally defined by Mitchell.

The Barnett Shale accounts for 25% of Devon’s company-wide gas production of about 2.2 Bcf/d. Devon holds 550,000 net acres in the Barnett Shale and produces more gas from the field than all other producers combined.

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