Reuters U.S. oil and gas producer Devon Energy Corp on Thursday cut its 2020 spending forecast by $500 million or nearly 30% to about $1.3 billion, joining its shale peers as the industry battles a slump in crude prices. Shale producers, including Occidental Corp and Diamondback Energy Inc, have tightened belt after a price war between Saudi Arabia and Russia
Houston Chronicle Devon Energy is selling its position in Texas’ Barnett shale for $770 million, leaving the birthplace of the shale revolution without any top industry players. The shale boom started with George P. Mitchell in the Dallas-Fort Worth metroplex’s Barnett shale and he eventually sold his Mitchell Energy to Oklahoma-based Devon in 2002 for more than $3 billion.
Source: Houston Chronicle Thousands of acres of land remain sealed off days after a blowout at a natural gas well located belonging to Devon Energy between the Eagle Ford Shale towns of Yorktown and Nordheim. The accident happened at a Devon Energy natural gas well near Cotton Patch Road and FM 952 in DeWitt County early Friday morning. No injuries
Source: Reuters (Reuters) – Investors are bracing for weaker results from U.S. shale players in coming days as lower oil and natural gas prices and cost-cutting measures have weighed on third-quarter operations. Major shale producers ConocoPhillips (COP.N) and Concho Resources (CXO.N) this week kick off quarterly earnings reports for a group whipsawed this year by volatile pricing and investor demands
5 new wells producing 10 MBOEPD each are adjacent to last year’s 12 MBOEPD wells By Richard Rostad, analyst, Oil & Gas 360 Devon Energy (ticker: DVN) announced first quarter results today, showing a net loss of $317 million, or ($0.74) per share. This loss was primarily due to derivative losses, and if these and other special charges are excluded,
Ann G. Fox, Keith O. Rattie Nominated for Election to Devon Energy’s Board of Directors
Duane Radtke Elected Vice-Chairman of Devon Energy Board; Chairman John Richels to Retire in June 2019
Devon Energy (NYSE: DVN) and reported Q2 earnings and talked about operations, acquisitions, and returning value to the shareholders. Q: On Showboat. You did obviously mention there were some I guess a bit stronger declines. Was that related to the parent well being obviously three years old in the area, or was it more the Lower Meramec? And if you
Devon Energy Corp. (NYSE: DVN) announced that it has completed the sale of its ownership interests in EnLink Midstream Partners, LP (NYSE: ENLK) and EnLink Midstream, LLC (NYSE: ENLC) for $3.125 billion to affiliates of Global Infrastructure Partners (GIP), an independent infrastructure fund manager. With the closing of this transaction, the financial results of EnLink Midstream will no longer be
From Business NewsWire Devon Energy Corp. (NYSE: DVN) announced today that shareholders have elected John Krenicki Jr. to the board of directors. The board previously nominated Krenicki, and shareholders approved his selection at the company’s annual meeting today, during which the company’s existing board members were re-elected to one-year terms. The addition of Krenicki expands Devon’s board to 10 members,
Devon targets 20 U.S. operated rigs by year-end Devon Energy Corp. (ticker: DVN) reported stronger than expected production results Tuesday as the company’s U.S. resources outperformed its earlier guidance. Oil production averaged 261 MBOPD, up 7% sequentially, 5 MBOPD more than the top end of the company’s guidance. The growth was driven entirely by Devon’s U.S. resource plays where the
Cheniere’s Midship open season ends March 30 Cheniere Energy’s (ticker: LNG) Midship Pipeline Company, LLC has signed agreements with foundation shippers to support construction of a 200 mile, 36-inch interstate natural gas pipeline project and has launched a binding open season for shippers—known as the Midship project. Cheniere said the commitments are from subsidiaries and/or affiliates of Cheniere, Devon Energy Corporation
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