Having led the charge on lower costs of production and capital, Devon now faces the frustration of having to wait on the several pipeline projects to get its molecules either to market in the U.S. or to tidewater in Canada for export to Asia.
“The clouds are starting to part,” said Rob Dutton, senior vice president of Canadian operations for Devon Energy Corp. “We have to be pragmatic and realistic, but I am quite optimistic; actually more today than I was a year ago. We have seen support on the Trans Mountain, and are seeing some regulatory support on Keystone XL. There has been a lot of activity [in midstream development to get Alberta production to market] at all levels of government and among the pipeline companies. They all understand the challenges.”