American Oil and Gas Reporter - November 2022 - 71

2018 and February 2020 prompted researchers
from two universities and the
Environmental Defense Fund to conclude
key locations across the region were emitting
less than methane than expected.
At a September hearing of the state's
Air Quality Control Commission, an adviser
for Boulder County cited the modeling
study to claim methane emissions
were rising in parts of the region in proximity
to production sites.
However, Haley counters, those figures
are not as reliable as those that make use
of newer observational data. Data compiled
by the U.S. Energy Information
Administration shows a significant increase
in oil and gas production since
2015 while the latest research indicates
emissions have declined.
The latest study shows that despite
claims to the contrary, " Colorado's oil
and gas operators continue to decrease
our climate footprint, " Haley affirms.
Annual Meeting
At press time, the 2022 COGA Annual
Meeting was to be held on Nov. 10 at the
Hilton Denver City Center in Denver.
Hosted every November as the largest
member gathering, the annual meeting reviews
the industry's previous year, while
also conducting official business and making
an industry call-to-action for the next year.
The 2022 annual meeting's theme focused
on energy security and included a
panel discussion titled " LNG Diplomacy:
Can the United States Avoid Following
Europe's Disastrous Path and Instead
Help Provide Energy the World Needs? " ❒
Devon Energy Completes
Eagle Ford Bolt-on Buy
OKLAHOMA CITY-Devon Energy
Corp. has completed its previously announced
acquisition of Eagle Ford operator
Validus Energy for a total cash consideration
of $1.8 billion, less purchase price
adjustments.
According to Devon, the acquisition secures
a premier acreage position of 42,000
net acres (90% working interest) adjacent
to Devon's existing leasehold in the basin.
Fourth quarter production from the acquired
assets is about 35,000 barrels of oil equivalent
a day and projects to increase to an average
of 40,000 boe/d during 2023.
The transaction also adds 350 repeatable
drilling locations in the core of the Karnes
Trough oil window along with 150 highquality
refracturing candidates, Devon says.
The company adds that the inventory positions
Devon's Eagle Ford assets to sustain
its high-margin production and free cash
flow generation for several years.
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NOVEMBER 2022 71
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American Oil and Gas Reporter - November 2022

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