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Devon completes Jackfish project.

Byline: Journal Record Staff

OKLAHOMA CITY Devon Energy Corp. has completed facilities work at its Jackfish 1 heavy oil project in Alberta, Canada, and full-scale operations have been restored.

The work at Jackfish 1 was related to minor facility repairs the Oklahoma City-based company identified during recent turnaround startup activities. Devon performed maintenance work that temporarily curtailed production.

Devon estimates that its third-quarter 2018 net production in Canada will be 104,000 barrels of oil equivalent per day as a result of the maintenance at Jackfish 1. The temporary curtailment of volumes at Jackfish represents less than 1 percent of total expected company-wide production in 2018.

With the Jackfish complex resuming full-scale operations, the company expects fourth-quarter net production in Canada, after the impact of higher sliding-scale royalties, to increase to an average of 115,000 to 120,000 barrels of oil equivalent per day. This operational momentum will carry into 2019, with Canadian net production estimated to exit the current year in excess of 120,000 barrels of oil equivalent per day.

Devon estimates that net production in the U.S. will be 418,000 barrels of oil equivalent per day during the third quarter.

Devon's upstream capital spending during the third quarter totaled $523 million.

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Publication:Journal Record (Oklahoma City, OK)
Geographic Code:1CANA
Date:Oct 16, 2018
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