Devon, EOG show Barnett shale has momentum

Reports from two key operators in the Barnett shale of North Texas show the play has strong momentum.Devon Energy Corp., Oklahoma City, said its proved reserves in the North Texas Barnett shale gas play exceed the 1.9 tcf of gas equivalent booked when it acquired the Fort Worth basin assets in 2002, in spite of the intervening production.Devon Energy bought the Barnett shale assets from Mitchell Energy & Development Corp. in January 2002. It now operates 1,830 wells in the formation, having drilled nearly 1,000 wells since the acquisition. The company has 18 rigs running in the play.Devon Energy reported 1.944 tcfe of Barnett reserves at the end of 2004.At 570 MMcfd vs. 350 MMcfd in e...

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