Devon Energy
Devon Energy, headquartered in Oklahoma City, is a Fortune 500 company focused on onshore oil and gas production in the United States, with operations in five core areas including the Delaware Basin and Eagle Ford. The company emphasizes responsible production, financial strength, and community engagement, including significant investments in STEM education.
Devon Energy Services
Devon Energy focuses on the onshore United States, providing oil and gas production in an environmentally responsible manner. Their operations include exploration, development, and production of oil, natural gas, and natural gas liquids. They also manage the marketing and midstream functions, which cover the sale of hydrocarbons and the construction and operation of pipelines, storage, and treatment facilities.
Devon Energy Operations
Devon Energy's operational focus lies in five core areas: the Delaware Basin, Eagle Ford, Anadarko Basin, Powder River Basin, and Williston Basin. In the Delaware Basin, their activities in southeast New Mexico and west Texas encompass approximately 400,000 net acres. The Eagle Ford operations in Texas emphasize light-oil production. In the Anadarko Basin, primarily located in Oklahoma, activities target the Meramec and Cana-Woodford Shale formations. The Powder River Basin operations in Wyoming focus on both oil and natural gas production. Lastly, the Williston Basin operations are situated on the Fort Berthold Indian Reservation, centered on the Bakken and Three Forks formations.
Devon Energy Production Data
In the fourth quarter of 2022, Devon Energy's daily production statistics included approximately 315,000 barrels of oil, 150,000 barrels of natural gas liquids, and over 1 billion cubic feet of natural gas. This output underscores Devon Energy’s consistent contribution to the energy sector and helps maintain its competitive position in the market.
Devon Energy Shareholder Strategy
Devon Energy's business strategy is geared toward delivering competitive shareholder returns. This strategy is based on four fundamental principles: being a proven and responsible operator, maintaining a premier sustainable portfolio of assets, executing superiorly, and ensuring financial strength and flexibility. These guiding principles allow Devon Energy to maintain a strong and stable presence in the market.
Devon Energy Social Investments
In 2022, Devon Energy made significant social investments, including $17.9 million for humanitarian support and $4.1 million in one-time gifts for capital projects. Their commitment to enhancing STEM education resulted in the opening of 120 STEM centers across various states, including Oklahoma, Texas, New Mexico, and North Dakota. Their 2023 goal aims to support 110,000 students and 2,700 teachers, reflecting their ongoing dedication to community development and education.