Emeritus

John W. Nichols, 93, co-founder and chairman emeritus of Devon Energy Corp., has died following a lengthy illness. Nichols began his career as an auditor for Oklahoma City-based oil and gas producers. As a certified public accountant, Nichols registered the world’s first public oil and gas drilling fund with the Securities and Exchange Commission. His investment fund raised more than $1.4 million within a few months, and using the seed money, Nichols and F.G. “Blackie” Blackwood in 1941 established an oil company to explore the northeast corner of New Mexico’s San Juan Basin. Nichols founded Devon in 1971 and asked his oldest son G. Larry Nichols to partner with him. Their first acquisition was five natural gas wells southeast of Dallas. Devon went public in 1988 and Nichols retired in 1999; his son is now chairman and CEO. Devon today is considered the largest independent oil and natural gas producer in the United States, with operations extending through Canada and overseas. At the end of 2007 Devon had proven reserves of 2.5 billion boe and an enterprise value of $59 billion. Devon also is Oklahoma’s largest publicly traded company. Funeral services are scheduled for Thursday at First Presbyterian Church in Oklahoma City.