Devon Energy – Oil & Gas 360

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

US oil and gas mergers continue at furious pace in Q2, says Enverus

July 30, 2024

U.S. News HOUSTON – U.S. oil and gas patch deals continued to run hot in the second quarter, topping $30 billion with big dollar tie-ups pushing values higher, according to data released on Tuesday by energy researcher Enverus. Blockbuster mergers, such as ConocoPhillips’ $22.5 billion offer for Marathon Oil, remain a mainstay even as U.S. lawmakers call on regulators to

Devon Energy announces strategic acquisition in the Williston Basin and expands share-repurchase authorization by 67 percent to $5 billion

July 8, 2024

Oil and Gas 360 OKLAHOMA CITY, July 08, 2024 (GLOBE NEWSWIRE) — Devon Energy (NYSE: DVN) announced today it has entered into a definitive purchase agreement to acquire the Williston Basin business of Grayson Mill Energy in a transaction valued at $5 billion, consisting of $3.25 billion of cash and $1.75 billion of stock to the sellers. The transaction is

Devon Energy in talks to acquire oil driller Enerplus

February 8, 2024

World Oil (Bloomberg) – Devon Energy Corp., an Oklahoma City-based oil and gas company, is in talks to acquire Calgary-based driller Enerplus Corp., Reuters reported. The companies have not come to an agreement, Reuters said, citing anonymous sources. It comes on the heels of a string of recent megadeals in the U.S. oil patch as companies push to line up

Devon Energy considering U.S. shale M&A options with Marathon Oil, CrownRock

October 19, 2023

World Oil (Bloomberg) – Devon Energy Corp., an Oklahoma City-based oil and gas company, is studying major acquisition targets as it seeks to gain scale in U.S. shale, according to people familiar with the matter. Devon has held preliminary talks in recent months about a combination with Marathon Oil Corp., said the people, who asked to not be identified because

Devon Energy announces bolt-on acquisition in the Williston Basin

June 9, 2022

Oil and Gas 360 OKLAHOMA CITY, June 08, 2022 (GLOBE NEWSWIRE) — Devon Energy Corp. (NYSE: DVN) announced today it has entered into a definitive purchase agreement to acquire the leasehold interest and related assets of RimRock Oil and Gas, LP, a Warburg Pincus portfolio company, in the Williston Basin for total cash consideration of $865 million. The transaction is

$Devon launches its own mobile sand mine to cut fracing costs- oil and gas 360$

Devon launches its own mobile sand mine to cut fracing costs

May 4, 2022

World Oil (Bloomberg) — Devon Energy Corp., one of the biggest oil explorers in the Permian Basin, is getting into the sand business to combat rising costs. The Oklahoma City-based company told investors of a new, so-called mobile frack-sand mine it launched on 15,000 acres of land it owns in the West Texas county of Loving. The mine is expected to save

As oil-well backlog shrinks, U.S. shale may upset investors and drill more

September 14, 2021

Reuters Publisher’s Note: Northern Oil and Gas, Inc. was a presenter at EnerCom’s The Oil & Gas Conference, view their replay at 1:00pm MST. U.S. energy producers have cut so deeply into a once-large reserve of oil wells waiting to be turned on they soon may have to resume drilling to keep production from sagging, executives and analysts said. This

Pioneer Natural, Devon profits beat as oil prices rebound

May 5, 2021

Reuters U.S. shale producers Pioneer Natural Resources and Devon Energy Corp beat Wall Street expectations for first-quarter profits on Tuesday, as COVID-19 vaccine rollouts and easing travel restrictions lifted crude prices. U.S. energy companies have delivered strong profits this year on a rebound in oil prices and deep cost cuts implemented in 2020 at the peak of the pandemic-driven downturn

Devon Energy and WPX Energy complete Merger of Equals transaction

January 7, 2021

Oil and Gas 360 Devon Energy Corporation (“Devon”) (NYSE: DVN) and WPX Energy, Inc. (“WPX”) (NYSE: WPX) today announced the successful completion of their previously announced all-stock merger of equals, creating a leading energy producer in the U.S., with an asset base underpinned by a premium acreage position in the economic core of the Delaware Basin. The combined company will

Devon Energy to buy shale peer WPX for $2.56 billion in Delaware push

September 28, 2020

Reuters U.S. oil and gas producer Devon Energy Corp DVN.N said on Monday it will buy Permian basin peer WPX Energy Inc WPX.N for $2.56 billion as it looks to scale up its presence in the Delaware portion of the prolific shale field. The deal values WPX at $4.56 per share, just 2.7% higher than the stock’s closing price on Friday. WPX shares surged

Devon Energy Announces Sale of Barnett Shale for $770 Million; Announces New $1 Billion Share-Repurchase Program - oilandgas360

Devon Energy Provides Hedge Position Update

March 19, 2020

OKLAHOMA CITY, March 19, 2020 (GLOBE NEWSWIRE) — Devon Energy Corp. (NYSE: DVN) today provided an update regarding its oil and natural gas hedge position. The company has approximately 80 percent of its estimated oil production in 2020 protected at an average floor price of nearly $45 WTI. Additionally, Devon has secured hedges on approximately 40 percent of its estimated

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