Devon Energy Company News

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Shale Drillers Show Restraint in Q1
So far, shale explorers are passing the test.
8:00 PM EST | May 17, 2021
Wells Restarting in Texas
The Texas oil patch is slowly restarting wells after a deep freeze that swept through the region shut a record amount of US crude output.
7:00 PM EST | February 17, 2021
Biden Leasing Ban to Yield Uneven Impact
Biden played up his climate policies as a source of new jobs, but energy companies and Western state officials beg to differ.
7:00 PM EST | January 26, 2021
Devon and WPX Merge
Devon Energy and WPX Energy have completed their all-stock merger.
7:00 PM EST | January 07, 2021
Shale CEOs Urge Production Restraint
The new boss of Devon Energy said he won't let this week's rally in oil prices tempt him to return to the days of rampant production growth at any cost.
7:00 PM EST | January 06, 2021
Onshore US Operators to Report Flaring Data
A coalition of US oil and gas companies has launched a new program under which they will report data to gauge annual progress in reducing flaring in their upstream operations.
7:00 PM EST | December 16, 2020
Filing Shows WPX Walked Away from 43% Takeover Premium
When Devon Energy agreed to acquire WPX Energy in September, it was the latest US shale merger to be done with little or no takeover premium.
7:00 PM EST | November 05, 2020
Is a Healthier Oil Market on the Horizon?
Here is a look back at oil and gas market hits and misses for the week ending Oct. 23, 2020.
8:00 PM EST | October 22, 2020
Modest Deals Reflect Slide for US Shale
There is no more dramatic sign of the US shale industry's fall from grace than one of the best in the business being sold off for less than a third of its peak value.
8:00 PM EST | October 19, 2020
Another Permian Operator Sale May Be Underway
Pioneer Natural Resources Co. is in talks to buy rival U.S. shale driller Parsley Energy Inc., according to a person familiar with the matter.
8:00 PM EST | October 19, 2020
ConocoPhillips to Acquire Permian Operator in $9.7B Deal
ConocoPhillips agreed to buy Concho Resources Inc. for about $9.7 billion in stock.
8:00 PM EST | October 18, 2020
Devon to Become Bigger Permian Player
Devon Energy Corp. agreed to acquire WPX Energy Inc. in a $2.56 billion all-stock deal.
8:00 PM EST | September 27, 2020
Permian Crown Jewel Preps for Biden Ban
The Permian in New Mexico, unlike in Texas, lies largely on federal land.
8:00 PM EST | September 24, 2020
Devon's $830MM Barnett Asset Sale Pushed Back
Devon Energy's scheduled closing date for its pending sale of Barnett Shale assets to Banpu Kalnin Ventures has been extended.
8:00 PM EST | April 15, 2020
Earnings Show Shale Players Competing for Dividend Growth
Independent explorers have been punished by investors for aggressive growth plans that favored skyrocketing production over returning cash to shareholders.
7:00 PM EST | February 18, 2020
Devon Energy Sells Barnett Shale Assets for $770MM
Devon Energy Corp. has agreed to sell its Barnett Shale assets to Banpu Kalnin Ventures for $770 million.
7:00 PM EST | December 17, 2019
Devon Energy Sets Goal to Reduce Methane Emissions
U.S. independent Devon Energy Corp. is looking to reduce its methane emissions for its U.S. oil and natural gas production operations.
8:00 PM EST | June 10, 2019
Energy Stocks Hurt By Oil Slump Want Value Investors
The Russell 3000 reconstitution later this month will be key for energy companies vying for investor attention, given an already low weighting in the index.
8:00 PM EST | June 05, 2019
Shale's Growing Pains Could Curb US Oil Production
The dramatic ramp-up in U.S. shale production is running into a combination of issues that threaten to slow the pace of expansion.
8:00 PM EST | March 25, 2019
Permian Auction Doubles 2008 Record with near Billion-Dollar Sale
The price to access unexplored shale assets on the New Mexico side of the Permian Basin soared to $95,001 an acre in a federal government auction.
8:00 PM EST | September 06, 2018
Shale Companies Sink On Investor Disappointment, Hedging Losses
Shares of US oil producers dropped sharply after several companies posted weaker-than-expected results.
8:00 PM EST | July 31, 2018
Devon Energy Plans to Lay Off 9 Percent of Staff to Boost Returns
U.S. shale oil producer Devon Energy Corp will lay off 300 workers, roughly 9 percent of staff, as part of a plan to streamline its operations.
8:00 PM EST | April 09, 2018
A Small Oil Field In Oklahoma Is Seeing Big Bets From Producers
Investments are now paying off as production levels rise and soaring land costs in the Permian have producers looking to other fields for expansion.
8:00 PM EST | March 18, 2018
'Netflix for Oil' Setting Stage for $1 Trillion Data Battle
The service companies that map underground pockets of oil, drill the wells and lift crude from miles below are generating vast new amounts of data they never before realized could be valuable.
8:00 PM EST | March 18, 2018
US Shale Producers Promise both Higher Output and Returns
U.S. shale producers are telling investors impatient for better returns that they can keep boosting oil output aggressively and do so while still making money for shareholders.
8:00 PM EST | November 02, 2017
Devon Energy 3Q Profit Beats Estimates
Devon reports a bigger-than-expected quarterly profit, helped by higher realized prices for oil.
8:00 PM EST | October 30, 2017
Shale Drillers Show Few Signs of Slowing as Profits Expand
Four of the biggest US drillers said they're not backing away from lofty production targets for 2017.
8:00 PM EST | August 01, 2017
Devon Energy Trims Full-Year Spending
Devon Energy trims its full-year exploration spending by $100 million, joining a growing list of US shale producers.
8:00 PM EST | July 31, 2017
Devon Energy Plans To Divest $1B Assets; Profit Beats
Devon Energy says it will divest about $1 billion of its assets.
8:00 PM EST | May 01, 2017
Devon Energy Beats Profit Estimates As Cost Cuts Pay Off
Devon Energy reports a bigger-than-expected quarterly profit, as the US oil producer benefited from its cost-cutting initiatives.
7:00 PM EST | February 13, 2017
E&P Companies Target Potential of STACK, SCOOP Plays
Operators are testing the oil potential of the STACK and SCOOP plays as they seek E&P opportunities that work in a lower oil price environment.
8:00 PM EST | August 24, 2016
US Frackers Surprise Themselves As Tweaks Keep Adding Barrels
Nimble US shale oil producers continue to show an uncanny ability to squeeze more and more crude from new wells, allowing them to do more with less.
8:00 PM EST | August 02, 2016
Devon Energy Posts Surprising Adjusted Profit On Cost Cuts
Devon posts an unexpected adjusted quarterly profit and narrows its net loss.
8:00 PM EST | August 01, 2016
Devon Stacks Up More Success in STACK Play
Devon Energy reports more testing and production success in the STACK play in Oklahoma.
8:00 PM EST | July 18, 2016
Oil Patch 'Left for Dead' Will Spark New IPOs for US Explorers
As the oil industry emerges from the biggest bust in three decades, shale drillers in a neglected corner of the biggest US oil field are poised to take a new generation of gushers public.
8:00 PM EST | June 22, 2016
Devon Sells Texas Land to Pioneer, Undisclosed Buyer for $858M
U.S. shale oil producer Devon Energy Corp said it would sell Texas acreage to Pioneer Natural Resources Co and an undisclosed buyer for $858 million, as the pace of asset sales picks up on recovering oil prices.
8:00 PM EST | June 14, 2016
Devon Energy To Divest Nearly $1B Assets
Devon Energy Corp says it will sell nearly $1 billion of producing assets in Texas and certain royalty interest as part of its divestiture program to improve its finances.
8:00 PM EST | June 05, 2016
As Oil Boom Goes Bust, Oklahoma Protects Drillers and Squeezes Schools
After intense lobbying, Oklahoma's oilmen scored a victory two years ago. State lawmakers voted to keep in place some of lowest taxes on oil and gas production in the United States - a break worth $470 million in fiscal year 2015 alone.
8:00 PM EST | May 16, 2016
US Shale Oil Drillers Finally Buckling as OPEC Pumps On
US oil drillers are finally beginning to buckle. For more than a year, American oil producers found a way to keep pumping despite a worldwide slide in crude prices.
7:00 PM EST | February 25, 2016
Devon Energy Slashes Spending 75%, Cuts Jobs And Says Output To Dip
Devon slashes its 2016 capital spending program 75%, announces layoffs for 20% of staff and says production would slip as low prices roil shale oil companies.
7:00 PM EST | February 15, 2016
Devon Says Hires Jefferies To Sell Non-Core Assets To Cut Debt
Devon Energy has hired the US investment bank Jefferies Group LLC to market assets across four major shale basins to raise cash and slash debt.
7:00 PM EST | February 09, 2016
BP Buys New Mexico Oil And Gas Assets From Devon Energy
BP says its US onshore unit has acquired all of Devon's oil and gas properties in the San Juan Basin in New Mexico for an undisclosed price.
7:00 PM EST | December 17, 2015
Report: With Oil Hedges Rolling Off, US Shale Producers Face Stiff Test
Cash-strapped U.S. shale oil producers are facing another sharp sell-off in a 18-month-old crude slump with reduced hedging protection, risking a severe hit to earnings if prices fail to recover.
7:00 PM EST | December 13, 2015
Devon Energy To Buy Assets From Felix Energy For $1.9B
Devon Energy says it will buy some assets in the Anadarko Basin from smaller peer Felix Energy for $1.9 billion.
7:00 PM EST | December 06, 2015
Devon Energy Plans To Cut Capital Spending Next Year
Devon Energy says it will slash capital spending for its exploration and production budget next year as crude oil prices remain depressed.
7:00 PM EST | November 03, 2015
Devon Energy Has $3.5B Quarterly Loss On Writedowns
Devon Energy reports a quarterly loss compared with a year-earlier profit.
7:00 PM EST | November 02, 2015
Devon Energy Cuts 15% Of Staff In Canada
Devon Energy has cut around 200 jobs, or 15%, of its staff in Canada following a significant reduction in capital spending, a company spokeswoman says.
8:00 PM EST | October 27, 2015
Big Data, Internet of Things Transforming Oil and Gas Operations
The amount of Big Data generated by oil and gas operations continues to grow as industry seeks to define Big Data and derive more benefits from it.
8:00 PM EST | September 16, 2015
Devon Quarterly Results Beat Street, Oil Output Up
Devon Energy reported quarterly results that topped expectations as it pumped a record amount of US crude oil from shale basins in Texas and costs fell.
8:00 PM EST | August 03, 2015
Devon Energy Names COO Hager As Chief Executive Officer
Devon Energy names Dave Hager chief executive officer.
8:00 PM EST | August 02, 2015