The Permian Basin covers a 66,000 square mile area of west Texas and southeastern New Mexico and contains over 500 major oil and gas fields. It is characterized by prolific, long-lived oil and gas production from numerous formations found at a wide variety of depths.
Many formations respond to enhanced recovery techniques, such as waterflood projects.
In addition, the region is criss-crossed with multiple pipelines with easy access to many oil and gas markets. Acreage held by production from existing wells and large federal exploration units makes leases difficult to obtain. Most of Devon s position here was established through six major transactions. Over a dozen oil and gas producing basins are located in the Rocky Mountain area, stretching from the Canadian border south to New Mexico. Technology pioneered by Devon and a few other companies in the 1980 s and 1990 s resulted in significant production from coalbeds in the San Juan Basin.