|With proved oil and gas reserves of 670 million energy equivalent barrels at year- end 1999, Devon is one of the top 10 public independent oil and gas producers based in the United States. Devon produces oil and natural gas onshore and offshore in the United States, in Canada and internationally. Devon has concentrated its North American oil and gas properties into six core operating areas. This concentration of operations allows Devon to achieve a lower overall cost structure in each core area. We also benefit from the level of technical expertise we attain from our experience in these areas. Concentrated production enables Devon to negotiate more favorable terms with service and supply vendors because we are an important customer with a high volume of business.|
Devon Energy Swings to 1Q Loss on Large Asset Write-Down
Wednesday, May 01, 2013 Devon Energy swings to a substantial first-quarter loss as the oil and gas exploration company recorded a $1.9B write-down stemming from lower oil and natural-gas liquids prices.
Anadarko Executive Chairman James Hackett to Attend Harvard Divinity School
Monday, March 11, 2013 James Hackett, executive chairman and former chief executive of Anadarko Petroleum, plans to attend Harvard Divinity School.
Devon Energy Swings to 4Q Loss on Big Asset Write-Down
Wednesday, February 20, 2013 Devon Energy Corp. swung to a fourth-quarter loss as the oil and gas exploration company posted a $896 million asset write-down.
Devon Co-Founder to Retire at Year-End
Wednesday, December 12, 2012 Devon Energy co-founder J. Larry Nichols will retire from the company as an employee as of Dec. 31.
Devon Energy Swings to 3Q Loss on Charge, Sharp Revenue Decline
Wednesday, November 07, 2012 Devon Energy swung to a third-quarter loss on a large asset-impairment charge as the independent oil and gas producer posted a steeper-than-expected revenue decline.
Devon Closes Houston Office in Consolidation Move
Thursday, October 11, 2012 Devon Energy plans to consolidate its U.S. personnel into a single operations group at the company's corporate headquarters in Oklahoma City.
Magnolia Petroleum Issues Upbeat Operations Report
Monday, August 20, 2012 Ahead of schedule, Magnolia is now participating in 100 wells.
Devon Energy Agrees to $1.4B Venture
Wednesday, August 01, 2012 Devon agrees to sell 30% of its interest in the Cline Shale and the Midland-Wolfcamp Shale to Sumitomo in a deal valued at about $1.4B.
Devon Wraps Up Well in Tuscaloosa Marine Shale
Tuesday, July 10, 2012 Devon Energy recently completed its fourth horizontal well in the Tuscaloosa Marine Shale.
Devon CEO: No Interest In Acquisitions, Despite Abundant Cash
Wednesday, April 04, 2012 "People think we need to do an acquisition to grow. We don't," Chief Executive John Richels told analysts in a presentation. "We have no interest in acquiring assets."
Canada Oil Sands Producers to Share Environmental Technology
Thursday, March 01, 2012 A dozen of the largest Canadian oil sands producers agree to share funding for environmental research, saying pooling their resources will speed the creation of new technologies to reduce the negative effects of oil-sands development.
Devon to Boost 2012 Oil Production by 20%
Wednesday, February 15, 2012 Devon Energy Corp. will increase its oil production by 20% in 2012 as the independent oil and gas producer joins its peers in fleeing a weak natural gas market.
Devon, Sinopec Swap Stakes for $2.2B
Tuesday, January 03, 2012 Devon has signed an agreement with Sinopec (SIPC) whereby SIPC will invest $2.2B in exchange for one-third of Devon's interest in 5 new venture plays.
Devon Gets Go-Ahead for 3rd Jackfish Oil Sands Proj.
Monday, December 05, 2011 Devon has received regulatory approval from the Alberta Energy Resources Conservation Board and Alberta Environment and Water to move forward with the company's third oil sands project in Canada.
Devon 3Q Net Drops 50% in 2011
Wednesday, November 02, 2011 Devon reported net earnings of $1.0 billion for the quarter ended September 30, 2011.
Chevron to Start Drilling Offshore South China by Year-End
Tuesday, October 18, 2011 Chevron plans to start drilling its first gas exploration well off the southern coast of China before the end of the year, near an area where large gas reserves have been found, a senior regional executive said.
Record Output, Higher Prices Drive Devon's 2Q Profit to $2.7B
Wednesday, August 03, 2011 Devon reported net earnings of $2.7B in the second quarter of 2011 due to higher higher production and higher oil and natural gas liquids pricing.
Devon Drills Well in Tx. Panhandle
Friday, July 15, 2011 Breitling has spud the Breitling-Buffalo Run #1H on July 10, 2011 in Hemphill County, Texas.
Devon Declares Quarterly Dividend
Wednesday, June 08, 2011 Devon declared a quarterly cash dividend on Devon's common stock for the third quarter of 2011.
Devon Waves Goodbye to Board Member
Thursday, February 17, 2011 Devon reported that J. Todd Mitchell will not stand for reelection to the company's board of directors at the expiration of his current term.