Woodford growing revenues by farming to oily shale ///

For North American shale operators, the latest cash crops are oil, natural gas liquids (NGL) and condensates, due to the high price disparity between dry natural gas and liquids. This trend is particularly apparent in Oklahoma’s Woodford shale play. Operators, such as Devon Energy, have shifted their leasing and drilling activity from the gas-prone Arkoma Woodford in southeastern Oklahoma to the to the liquids-rich Anadarko Woodford in the west and South Oklahoma Woodford in the southern region of the state, Fig. 1. As most of the Anadarko play is in Canadian County, the play is also referred to as the Cana Woodford. Prior to the current unconventional activity, the Woodford has been the source of conventional oil since the first commercial well was drilled in 1939 with total oil production from the region exceeding 4 million bbl.

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