Devon

Devon Supporting Efforts to Sanction Another Permian Natural Gas Pipe, Says CFO

Devon Supporting Efforts to Sanction Another Permian Natural Gas Pipe, Says CFO

Devon Energy Corp. is working with midstream companies to help advance a natural gas pipeline in the Permian Basin, management said Thursday.  CEO Rick Muncrief and his management team hosted a conference call to discuss first quarter earnings for the Oklahoma City-based oil and gas producer. Devon operates primarily in the Permian’s Delaware sub-basin, as…

May 3, 2024
Mitsui’s LNG Shipping Unit Invests in Delfin LNG Project Ahead of Anticipated October FID

Mitsui’s LNG Shipping Unit Invests in Delfin LNG Project Ahead of Anticipated October FID

Delfin Midstream Inc. has finalized an investment agreement with shipping giant Mitsui O.S.K. Lines Ltd. (MOL) for its Delfin LNG export project ahead of a possible final investment decision (FID) later this year. Delfin disclosed MOL has agreed to take an undisclosed stake in the proposed Louisiana offshore liquefied natural gas project and will be…

June 12, 2023
Devon Focusing Capex on Permian Delaware, Says Natural Gas Takeaway Sufficient

Devon Focusing Capex on Permian Delaware, Says Natural Gas Takeaway Sufficient

Devon Energy Corp. is planning to focus a majority of its capital on the Permian Basin’s Delaware sub-basin this year, management said Wednesday. Oklahoma City-based Devon, a leading Lower 48 independent, operates primarily in the Permian Delaware, Anadarko, Williston and Powder River basins, along with the Eagle Ford Shale. Devon has set a 2023 capital…

February 15, 2023
‘The Rich Get Richer’ as Large Caps Dominate Diminished M&A Market in U.S. Oil and Gas

‘The Rich Get Richer’ as Large Caps Dominate Diminished M&A Market in U.S. Oil and Gas

Mergers and acquisitions (M&A) within the U.S. upstream fell to their lowest annual volume in nearly two decades last year, according to new research by Enverus Intelligence Research (EIR). Exploration and production (E&P) firms recorded 160 transactions valued at $58 billion total, the Enverus subsidiary found. This is the lowest number of deals since 2005.…

January 30, 2023
Oil, Natural Gas Permitting Tick Up in Rockies as Permian, Marcellus Dip

Oil, Natural Gas Permitting Tick Up in Rockies as Permian, Marcellus Dip

Oil and natural gas permitting in the Lower 48 slowed down sequentially in October, although the monthly permit count was up on both a year/year basis and when compared to pre-Covid October 2019 numbers, Evercore ISI data show. Operators filed a total of 3,308 permits last month, down 16% from September but up 25% versus…

November 21, 2022
ConocoPhillips, Devon and Pioneer Natural Throw Support to Global Methane Initiative

ConocoPhillips, Devon and Pioneer Natural Throw Support to Global Methane Initiative

Three of the largest Lower 48 producers have joined worldwide oil and gas peers in pledging to improve methane emissions reporting and reduce greenhouse gas (GHG) emissions. ConocoPhillips, Devon Energy Corp. and Pioneer Natural Resources Co. announced Thursday they were becoming members of the Oil and Gas Methane Partnership (OGMP) 2.0 Initiative. The OGMP standard…

July 19, 2022
Permian Natural Gas May Get Another Outlet with Matterhorn FID

Permian Natural Gas May Get Another Outlet with Matterhorn FID

A consortium of oil and natural gas firms is moving forward with plans to develop a greenfield 2.5 Bcf/d intrastate natural gas pipeline from the Permian Basin in West Texas to the Katy area, near Houston. The project still needs state approvals. Sanctioning of the Matterhorn Express Pipeline was announced Thursday by partners WhiteWater Midstream…

May 23, 2022
Devon Eyeing LNG Opportunities, Maintaining Focus in Permian

Devon Eyeing LNG Opportunities, Maintaining Focus in Permian

Oklahoma City-based Devon Energy Corp. reported steady growth in the first quarter, especially from its Permian Basin assets. However, the company is holding firm to its “value over volume” approach, choosing to maintain its production and capital investment levels. Despite heightened global oil and gas prices because of the Russian invasion of Ukraine and calls…

May 3, 2022
Global Markets – Not U.S. E&Ps – Sending Pump Prices Higher, Say Top Energy Execs

Global Markets – Not U.S. E&Ps – Sending Pump Prices Higher, Say Top Energy Execs

U.S. oil and natural gas producers don’t set global commodity prices, nor are they attempting to gouge consumers, executives of the leading domestic explorers told Congress on Wednesday. Top executives of BP America Inc., Chevron Corp., Devon Energy Corp., ExxonMobil, Pioneer Natural Resources Co. and Shell USA Inc. discussed the reasons for sustained high prices…

April 6, 2022
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
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