Devon Sets Record for Oil Production in 2002



Devon Energy Corporation reported that reserve additions replaced 278 percent of its 2002 production of oil, gas and natural gas liquids at a cost of $7.18 per equivalent barrel.

Combined production of oil, gas and natural gas liquids climbed to 188 million barrels of oil equivalent (MMBoe) in 2002. This is the highest production in Devon's history and 50 percent greater than the 126 MMBoe produced in 2001. The increase was driven by Devon's acquisitions of Anderson Exploration in October 2001 and Mitchell Energy in January 2002.