The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Paul Cheng - Scotiabank Global Banking and Markets, Research Division - Analyst
: Rick, one of your largest competitors just talked about, increasingly, they're going to drill the 15,000 feet lateral well. I think up until recently that
most people thought only 10,000 to 12,000 is the optimum, but it seems like they are suggesting differently. So just wondering that do you guys
have a view on that, and whether that's much of an opportunity for you to improve your lateral length and improve your efficiency in here.
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MAY 05, 2021 / 3:00PM, DVN.N - Q1 2021 Devon Energy Corp Earnings Call
Question: Paul Cheng - Scotiabank Global Banking and Markets, Research Division - Analyst
: And Clay, you said in your portfolio that what percentage of the wells over the next several years you think you may be able to push into 3-mile
[mark]?
Question: Paul Cheng - Scotiabank Global Banking and Markets, Research Division - Analyst
: Right. And Rick, you have touched on the consolidation trend and talked about from the position of Devon. Just curious that -- I mean 12 months
make a big difference with a much stronger share performance and commodity prices. When you talk to your peers, do you get a sense that, I
mean, the consolidation trend is still alive and kicking, or that everyone is sort of happy and that the demand for -- or that the willingness to sell
have substantially come down? And so from that standpoint, the consolidation trend may be over in the meantime?
Question: Charles Arthur Meade - Johnson Rice & Company, L.L.C., Research Division - Analyst
: Rick, to you and the rest of your team there, I actually just have one question. And this kind of gets back to the point of maybe looking past '21.
Rick, how much time do you and the Board and the management team spend thinking about the risk of maybe waiting too long to increase growth
CapEx and to increase volumes? Is that even on your radar? Or is that just something that doesn't enter the conversation right now?
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MAY 05, 2021 / 3:00PM, DVN.N - Q1 2021 Devon Energy Corp Earnings Call
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