The Lower Deschutes is open down in the Maupin area and is a good bet for fishing in February. Look for afternoon hatches of Baetis. Nymph fishing is certainly going to pay the best dividends with big Stone Nymphs, Perdigons, Jigs, PT’s, Squirmy Worms, Zebra Midges and Frenchies.
I would recommend the area anywhere from Locked Gate to Mack’s Canyon and that is a lot of water to spread out in. There are also some great floats to be had if you want to get the drift boat wet! (don’t forget to buy a boaters pass).