Devon Energy
 |
|
| Public company | |
| Traded as | : DVN S&P 500 Component |
| Industry | Petroleum industry |
| Founded | 1971 |
| Founder | John Nichols |
| Headquarters | Oklahoma City, Oklahoma |
|
Key people
|
J. Larry Nichols, Executive Chairman Dave Hager (CEO) |
| Products |
Petroleum Natural Gas Natural Gas Liquids |
|
Production output
|
568 thousand barrels of oil equivalent (3,470,000 GJ) per day from retained assets |
| Revenue |
 US$12.197 billion (2016) |
 -US$2.895 billion (2016) |
|
|
-US$3.302 billion (2016) |
|
| Total assets |
US$25.913 billion (2016) |
| Total equity |
US$10.375 billion (2016) |
|
Number of employees
|
5,000, including 1,500 employed by EnLink (2015) |
| Website | www.devonenergy.com |
Devon Energy Corporation is an independent natural gas, natural gas liquids, and petroleum producer focused on onshore exploration and production in North America. The company is headquartered in the 50-story Devon Energy Center, completed in 2012, in Oklahoma City, Oklahoma.
In 2016, the company ranked #216 on the Fortune 500.
Devon had 2,058 billion barrels of oil equivalent in total proved reserves as of December 31, 2016.
Devon is one of the largest energy producers in the Barnett Shale, where it controls 600,000 acres.
Devon was founded in 1971 by John Nichols and his son, J. Larry Nichols. It became a public company in 1988, and expanded through mergers and acquisitions.
In 2000, the company was added to the S&P 500 Index.
In 2012, the company completed construction of its current headquarters, the 50-story Devon Energy Center in Oklahoma City, Oklahoma and closed its office in the Allen Center in Downtown Houston.
In 2016, Devon announced plans to lay off 1,000 employees, including 700 in Oklahoma City, and cut its dividend as part of a cost-cutting effort due to low prices of natural gas, natural gas liquids, and oil.
In October 2011, the company stated that its efforts to reduce greenhouse gas emissions have resulted in company-wide emission reductions of 31 billion cubic feet of methane since 1990.
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Wikipedia