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Devon Energy anticipates a 2% drop in production for fourth-quarter 2022 as a result of severe winter weather impacting its operations, the company announced in a press release on Jan. 10.
Devon estimates its production will average 636,000 boe/d, of which 316,000 bbl/d is oil, a 15,000-boe/d decrease from its forecasted quarterly production. However, it is still up from approximately 611,000 boe/d (49% oil) in the fourth quarter of 2021, according to the company's website.
The severe weather resulted in well shut-ins, facility downtime and completions activity delays in December, particularly at the company's Williston Basin operations in North Dakota.
Devon expects the negative impact from the winter weather to be confined to fourth-quarter 2022, as it has already successfully restored the impacted operating areas.
Based in Oklahoma City, Devon's other operations are focused in the Delaware Basin, Eagle Ford shale, Anadarko Basin and Powder River Basin
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