Devon Energy (DVN) Sector
Energy

(Current) $46.80
-1.00 (-2.09%) Open Price: 47.29

 

Devon Energy Corporation is a US-based independent oil and gas exploration and production company. It is one of the largest producers of oil and natural gas in the United States. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma. It has operations in the United States and Canada. Devon Energy's operations are focused on shale plays in the United States, including the Barnett Shale, the Permian Basin, the Anadarko Basin, the Powder River Basin, and the Eagle Ford Shale. In Canada, the company has operations in the oil sands region of Alberta.

 

Devon Energy is primarily engaged in the exploration and production of oil, natural gas, and natural gas liquids (NGLs). The company has a diversified portfolio of assets that includes more than 10,000 wells and over 6 million net acres of leasehold. Devon Energy's production is split between oil, natural gas, and NGLs. The company's operations are supported by a strong balance sheet and a commitment to cost discipline.

 

Devon Energy has a strong focus on sustainability and responsible resource development. The company has implemented a range of initiatives to reduce its environmental footprint and improve operational efficiency. These initiatives include the use of advanced technologies to reduce emissions, water conservation measures, and the implementation of waste reduction programs. Devon Energy also has a strong commitment to community engagement and supports a range of social and educational programs in the areas where it operates.

 

In recent years, Devon Energy has undergone a strategic transformation aimed at simplifying its portfolio and focusing on its core assets. The company has divested non-core assets and restructured its business to focus on high-return shale plays in the United States. This has enabled the company to reduce its debt levels and increase its cash flow, which has been used to fund share buybacks and dividend payments.

 



 

(06/11/24) $47.29
(06/12/24) $47.79
(06/12/24) (Qty.)1,730,843
(06/11/24) $46.47
(06/11/24) $47.33
(06/02/24) $45.90
(05/26/24) $49.08
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