Devon Energy is oil and natural gas exploration and production company.
Devon Energy Corporation is an energy company engaged in hydrocarbon exploration in the United States. It is organized in Delaware and its corporate operative headquarters are in the 50-story Devon Energy Center in Oklahoma City, Oklahoma. Its primary operations are in the Barnett Shale, STACK Formation in Oklahoma, Delaware Basin, Eagle Ford Group shale, and the Rocky Mountains.
The company is ranked 520th on the Fortune 500. It is not on the Forbes Global 2000.
As of December 31, 2021, the company had proved reserves of 1,625 million barrels of oil equivalent (9.94×109 GJ), of which 44% was petroleum, 27% was natural gas liquids, and 29% was natural gas.
After a week of recovery, the US stock market continues to remain tepid with no clear catalyst to carry the rally forward.
In the merger of the equals, Devon Energy and WPX Energy have joined hands to float a single entity valued at $12 billion approximately. The merger will be completed by the first quarter of 2021.
In addition to placing workers on furlough, Noble Energy will also reduce the planned capital spending for 2020 by $500 million and operating costs by at least $50 million. NBL stock was up 13.75% yesterday.