Devon Energy Archives - Oil & Gas 360

Enverus ranks top U.S. land drillers, operators for 2026

August 19, 2026

(World Oil) – Helmerich & Payne (H&P) and ExxonMobil led U.S. land drilling activity among contractors and operators, respectively, according to new rankings released by Enverus based on first-quarter 2026 data. H&P ranked as the most active U.S. land drilling contractor, recording 15.85 million ft of total drilled measured depth across 776 wells. Patterson-UTI Drilling ranked second with 9.51 million ft across 442 wells, followed by Nabors Industries with 6.55 million ft and Ensign Energy Services with 4.21

Infrastructure company WhiteWater and its joint venture partners Devon Energy, MPLX, Diamondback Energy and Western Midstream Partners said on Monday they had reached a final investment decision (FID) to build two natural gas pipelines from the Permian Basin to Katy, Texas. The Permian Basin, the largest oil-producing region in the U.S., has seen steady growth in associated natural gas production in recent years, spurring investment in new pipeline infrastructure to move gas to key demand centers along the U.S. Gulf Coast. * The companies said the joint venture, known as the Solitude Pipeline System, is backed by substantial long-term firm transportation agreements with investment-grade shippers. * The pipeline system will be developed in phases, with initial capacity of about 2.25 billion cubic feet per day (Bcf/d) expected in late 2029, the companies said. * A second phase is due in 2030 and would add another 2.25 Bcf/d of capacity, bringing total capacity to about 4.5 Bcf/d, they added. * The companies said the system’s design would allow further capacity expansions to accommodate additional shipper demand. * WhiteWater owns 50% of the joint venture, while Devon Energy holds 25%, MPLX holds 10%, and Diamondback Energy and Western Midstream Partners each hold 7.5%. * Solitude is expected to enter service in the second half of 2029, subject to customary regulatory and other approvals. (Reporting by Varun Sahay in Bengaluru; Editing by Tasim Zahid)- oil and gas 360

WhiteWater-led venture approves Permian-to-Texas gas pipeline project

August 17, 2026

(BOE Report) – Infrastructure company WhiteWater and its joint venture partners Devon Energy, MPLX, Diamondback Energy and Western Midstream Partners said on Monday they had reached a final investment decision (FID) to build two natural gas pipelines from the Permian Basin to Katy, Texas. The Permian Basin, the largest oil-producing region in the U.S., has seen steady growth in associated

Devon Energy’s latest reinvention reflects a familiar corporate pattern

June 22, 2026

(Oil & Gas 360) By Greg Barnett, MBA – Devon Energy’s merger with Coterra Energy may represent the company’s most consequential strategic shift in more than a decade, but reinvention is hardly new for Devon. Over the past thirty years, the company has repeatedly reshaped itself alongside changing commodity cycles, basin economics, and investor preferences. The newly combined Devon

U.S. upstream mergers hit $38B as M&A rebounds

May 18, 2026

(Oil Price) – Dealmaking in the U.S. shale patch jumped to a two-year high in the first quarter as M&A activity rebounded from a slump. U.S. upstream mergers hit $38 billion in Q1 2026, marking the highest quarterly total in two years despite a sharp slowdown in March due to a spike in volatility tied to the Middle East conflict. According

Devon Energy and Coterra Energy Complete Merger

May 7, 2026

(Oil & Gas 360) – OKLAHOMA CITY and HOUSTON, May 07, 2026 (GLOBE NEWSWIRE) — Devon Energy Corporation (“Devon”) (NYSE: DVN) and Coterra Energy Inc. (“Coterra”) (NYSE: CTRA) today announced the successful completion of their previously announced all-stock merger (the “Transaction”), creating a premier large-cap shale operator with a high-quality asset base anchored by a leading position in the economic core

Devon Energy’s Gaspar sees good things ahead, stemming from his first year and the imminent merger with Coterra Energy

March 30, 2026

(World Oil) – During the third day of CERAWeek by S&P Global 2026, Devon Energy President & CEO Clay Gaspar engaged in a wide-ranging conversation with Raoul LeBlanc, Vice President for Upstream at S&P Global. They touched on his first year in his current position, his operating philosophy, the impact of the recently announced merger with Coterra Energy, and the potential impact

Devon–Coterra deal signals investors still rule the shale patch

March 3, 2026

(Oil Price) – Last month’s announcement that Devon Energy and Coterra Energy are merging to create a $58-billion giant is the latest mega-deal in the U.S. shale patch, signaling smaller public companies are seeking multi-basin, multi-year increases in drilling opportunities. In early February, Devon Energy and Coterra Energy announced a definitive agreement to merge and create a premier shale operator in

Energy Advisors: What’s 1+1? Devon-Coterra’s risky arithmetic?

February 6, 2026

(Oil and Gas 360) – Energy Advisors continuing series on Coterra Energy, Devon Energy, Kimmeridge, and Scott Sheffield asks the ultimate question: Can 1+1 ever equal 3 in the M&A world? Click New Devon, What’s 1+1? to download the report series. Our first report“ The Debate Begins” looked at what a Coterra and Devon merger would look like vs. Coterra becoming a Delaware pure-play

Devon Energy and Coterra Energy to Combine, Creating a Premier Shale Operator

February 2, 2026

(Oil & Gas 360) – OKLAHOMA CITY & HOUSTON–(BUSINESS WIRE)– Devon Energy (“Devon”) (NYSE: DVN) and Coterra Energy (“Coterra”) (NYSE: CTRA) today announced the signing of a definitive agreement to merge in an all-stock transaction. The combination will create a leading large-cap shale operator with a high-quality asset base anchored by a premier position in the economic core of the Delaware Basin.

Oil and gas research council recommends funding for EOR projects

October 21, 2025

North Dakota Petroleum Council – The North Dakota Oil & Gas Research Council met on Friday, October 17, 2025, and has recommended approving $45 million for North Dakota Enhanced Oil Recovery (EOR) pilot projects that could unlock billions of barrels in untapped reserves throughout the Williston Basin. The meeting began with opening remarks by Kyle Haustveit, Assistant Secretary of Fossil Energy,

Devon Energy and Centrica ink major LNG supply deal

August 15, 2025

(Oil Price)– U.S. Devon Energy Corporation has signed a 10-year natural gas agreement to supply LNG to UK’s Centrica, the owner of British Gas. Under the deal announced on Friday, Devon Energy will supply 50,000?(MMBtu) per day of natural gas over a 10?year term starting in 2028. This is equivalent to five LNG cargoes per year. The LNG volumes will be indexed

Devon Energy President and CEO, Rick Muncrief, to retire March 1, 2025; Clay Gaspar, Devon Chief Operating Officer, to succeed Muncrief

December 9, 2024

(Oil and Gas 360) – OKLAHOMA CITY, Dec. 09, 2024 (GLOBE NEWSWIRE) — Rick Muncrief, 66, has announced his retirement from the position of President and Chief Executive Officer and member of the Board of Directors of Devon Energy Corporation (NYSE: DVN), effective March 1, 2025. The board of directors has appointed Clay Gaspar, currently Devon’s Chief Operating Officer, to succeed

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