Devon

Devon Prioritizing Permian, Deferring Operations in Anadarko, Eagle Ford and PRB

Devon Prioritizing Permian, Deferring Operations in Anadarko, Eagle Ford and PRB

Lower 48 independent Devon Energy Corp., whose broad portfolio stretches across Texas, and into the Anadarko and Powder River (PRB) basins, has curtailed 10,000 b/d of oil through at least June, with future shut-ins to be made on a month-to-month basis given ongoing price volatility.

May 6, 2020
Devon Revamps Barnett Sale to BKV with Closing Extended to December

Devon Revamps Barnett Sale to BKV with Closing Extended to December

Devon Energy Corp. has amended the terms of its Barnett Shale asset sale to Thailand’s Banpu Kalnin Ventures (BKV), with the Oklahoma City-based independent agreeing to divest the North Texas assets for $570 million in cash at closing and contingent payments of up to $260 million.

April 15, 2020

4Q2019 Earnings: Devon Trains 2020 Focus on Permian Delaware

With the Barnett Shale sale completed, Devon Energy Corp. has transformed into a Lower 48 oil-rich powerhouse, with the Permian Basin set to drive performance this year, CEO Dave Hager said Wednesday.

February 19, 2020

BKV Deal for Devon’s Barnett Assets Said Potential Opening for LNG Exports to Thailand

Oklahoma City-based Devon Energy Corp., which gained entry into the unconventional natural gas business in 2002 with what at the time was a megadeal in the Barnett Shale, has agreed to sell the legendary assets in North Texas to Thailand’s Banpu Kalnin Ventures (BKV) for $770 million.

December 20, 2019

Devon Exits Barnett, Thailand’s BKV Expands Stakes in Lower 48 Natural Gas

Oklahoma City-based Devon Energy Corp., which gained entry into the unconventional natural gas business in 2002 with what at the time was a megadeal in the Barnett Shale, has agreed to sell the legendary assets in North Texas to Thailand’s Banpu Kalnin Ventures (BKV) for $770 million.

December 18, 2019

Devon Gains Funding Partner in Dow to Develop Oklahoma’s STACK

Devon Energy Corp. said Tuesday it plans to develop a portion of its Oklahoma properties with joint venture partner Dow Inc. within the STACK, aka the Sooner Trend of the Anadarko Basin, mostly in Canadian and Kingfisher counties.

December 12, 2019
Devon Moving STACK Capex to Better Performing Permian, PRB

Devon Moving STACK Capex to Better Performing Permian, PRB

Devon Energy Corp., which has continued to build a more oil-targeted Lower 48 arsenal, said Wednesday it plans to take capital reserved for Oklahoma and move it to the Permian Delaware and Powder River basins.

August 7, 2019
Devon Boosts ’19 Oil Output Forecast on Strong Permian Delaware Results

Devon Boosts ’19 Oil Output Forecast on Strong Permian Delaware Results

Devon Energy Corp. has increased its projections for Lower 48 oil production growth to 17% from 2018, up 200 basis points from previous guidance, on improving well productivity and capital efficiencies, particularly in the Permian Basin.

May 1, 2019

‘New’ Devon Casting Off Barnett, Canada to Transform into U.S. Oil Powerhouse

Devon Energy Corp. plans to cast off the asset that brought it to the unconventional dance floor in the early 2000s, the Barnett Shale, along with the Canadian portfolio, to complete its transformation into a pure-play U.S. oil producer.

February 20, 2019

People — Devon’s John Richels, Duane C. Radtke

Devon Energy Corp. Chairman John Richels is retiring in June. He served as president and CEO from 2010 until July 2015 and has been chairman since June 2016. In the coming months, Richels will lead the transition process. The board has elected Duane C. Radtke as vice chairman. He has served as a member of the board since 2010 and currently chairs the compensation committee and serves on the reserves committee. Since 2008, Radtke has served as president and CEO of family-owned Valiant Exploration LLC. From 2001-2008 he was president and CEO of Dominion’s former exploration unit Dominion Exploration and Production, and concurrently was executive vice president of former subsidiary Consolidated Natural Gas Co.

November 29, 2018
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