Oklahoma City’s Devon Energy and Chesapeake Energy are among those firms credited with turning Wyoming’s Powder River Basin into the revitalized oil and gas region it is today. It’s a region that is seeing a revival in drilling operations.
As Bloomberg News reported this week, the region will get $600 million in new wells from Chesapeake, EOG Resources and Devon Energy.
Chesapeake Energy completed several new wells this year, prompting company CEO Doug Lawler to discuss it during his firm’s May 4 conference call. It was then Lawler indicated the success in well operations was enough to convince company experts to possibly add a drilling rig to the Powder River Basin exploration efforts.
Devon is already moving another rig to the region where it has nearly 500,000 acres in drilling rights. It was last month when Devon sold its pipelines and infrastructure in the region for an undisclosed sum to Denver-based Meritage Midstream Services II LLC. Meritage is doubling capacity of a gas-processing plant and adding 425 miles of pipeline.