Devon

Devon Spending Less, Delivering More from North American Operations

Oklahoma City-based Devon Energy Corp. said Tuesday it spent about 9% less on upstream projects than it had projected during the third quarter, while Lower 48 production exceeded guidance.

October 16, 2018

Permian Operators Playing Whack-A-Mole as Pipeline, Labor Constraints Pop Up

Oil and natural gas pipeline constraints in the Permian Basin may be the headline story, but operators are playing “whack-a-mole” in the giant play, where once one issue is resolved, another immediately pops up, executives said Wednesday.

October 12, 2018
Devon Takes $3.1B for EnLink as GIP Builds Midstream Portfolio

Devon Takes $3.1B for EnLink as GIP Builds Midstream Portfolio

Devon Energy Corp. has clinched an agreement to sell its ownership in EnLink Midstream, which it controls, to an affiliate of Global Infrastructure Partners (GIP) for $3.125 billion.

June 6, 2018

Devon Laying Off 300 People in Adjustment to ‘Lower-for-Longer’ Price Environment

Devon Energy Corp. on Tuesday confirmed it will reduce corporate-wide staff by about 9%, or about 300 people, as part of a commitment to streamline the business and improve returns.

April 10, 2018
Devon Takes $553M for Slice of Barnett Shale

Devon Takes $553M for Slice of Barnett Shale

Devon Energy Corp. is selling a piece of the Barnett Shale, the onshore play that brought it to the dance, for $553 million.

March 8, 2018
Devon Shifting to Development Mode, Focused on Returns From STACK, Delaware

Devon Shifting to Development Mode, Focused on Returns From STACK, Delaware

Oklahoma City-based Devon Energy Corp. is shifting to development mode in its core in the STACK (aka, the Sooner Trend of the Anadarko Basin, mostly in Canadian and Kingfisher counties) and the Permian’s Delaware sub-basin in 2018 as the company continues to focus on returns over growth, management said Wednesday.

November 2, 2017

Devon Trims 2017 Capex on Efficiency Gains, with Focus in Permian, STACK

Driven by drilling and completion efficiency gains in the Permian’s Delaware sub-basin and in the Midcontinent during the first half of the year, Devon Energy Corp. is trimming its 2017 capital expenditure (capex) budget by $100 million, reflecting an emphasis on returns over growth.

August 2, 2017

Devon Sells Sells Eagle Ford Assets to Penn Virginia in $205M Deal

Devon Energy Corp. has agreed to sell noncore assets in the Eagle Ford Shale in Lavaca County, TX, to Penn Virginia Corp. for $205 million, the companies said Monday.

July 31, 2017
Devon Touts Record 6,000 Boe/d Well in STACK’s Meramec Formation

Devon Touts Record 6,000 Boe/d Well in STACK’s Meramec Formation

Devon Energy Corp. has completed a record-setting well in the over-pressured oil window of Oklahoma’s STACK (aka the Sooner Trend of the Anadarko Basin, mostly in Canadian and Kingfisher counties), management said Tuesday.

July 11, 2017

Democratic Senator Again Questions EPA’s Pruitt About Devon Ties

Citing a report that Obama-era environmental enforcement against Devon Energy Corp. could be rolled back, a high-ranking Senate Democrat is once again questioning Environmental Protection Agency (EPA) Administrator Scott Pruitt over his ties to the Oklahoma City-based operator.

May 24, 2017