OKLAHOMA CITY–(BUSINESS WIRE)–Devon Energy Corp. (NYSE: DVN) today provided a preliminary update on the impact of Hurricane Harvey to the company’s Eagle Ford operations in south Texas.
As a precautionary measure in preparation for Hurricane Harvey, the company temporarily ceased drilling, well-completion activity and shut-in production across its entire Eagle Ford position. Post-storm inspections indicated that Devon’s producing assets and facilities sustained only minimal damage. The company has restarted drilling operations and expects to have the vast majority of its affected production online by the end of the week.
Devon is working with its downstream providers to minimize midstream and fractionation curtailments in the Gulf Coast region. Many third-party downstream facilities have now restarted, and the company plans to update its production outlook once more information is available.