Devon sees full output at Jackfish 2 in 18 months
Devon Energy Corp. DVN +0.55% Chief Executive John Richels said Wednesday that the oil and gas producer has begun injecting steam into heavy oil wells at the second phase of its Jackfish oil field in Alberta, Canada and expects full production there to begin in 16 to 18 months.
The project's first phase is producing 35,000 barrels of oil a day, and additional phases are expected to have similar output, he said.