Devon Energy Corporation

Devon Energy Corporation

Devon Energy Corporation

Overview
Date Founded

1999

Headquarters

333 West Sheridan Avenue, Oklahoma City, OK, 73102-5015, USA

Type of Company

Public

Employees (Worldwide)

2,900

Industries

Oil & Gas

Company Description

Devon Energy Corp. engages in the exploration, development, and production of oil and natural gas properties. It operates through the following geographical segments: U.S., Canada, and EnLink. It develops and operates Delaware Basin, Eagle Ford, Heavy Oil, Baarnett Shale, STACK, and Rockies Oil. The company was founded by J. Larry Nichols and John W. Nichols in 1971 and is headquartered in Oklahoma City, OK.

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Executives & Employees

Co-Founder

President & Chief Executive Officer

Executive Vice President & Chief Financial Officer

Chief Operating Officer

Executive Vice President & General Counsel

Senior Vice President & Chief Accounting Officer

Vice President & Controller

Vice President, Corporate Finance & Treasurer

Senior Vice President-Operations

Senior Vice President-Communications & Investor Relations

Board of Directors

Director at TransCanada Corp.

Former Executive Vice President at Dominion Energy, Inc.

Former Chief Accounting Officer & Senior Vice President at Reliant Energy, Inc.

Former President & Chief Executive Officer at Overseas Private Investment Corporation

President at Sky Energy Investment Ltd.

President & Chief Executive Officer at Oklahoma City University

President & Owner at Cross Creek Energy Corp.

Operating Partner at Clayton Dubilier & Rice LLC

Co-Founder at Devon Energy Corporation

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Devon Energy Corporation
Owners & Shareholders
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EMC employs a multi-strategy trading approach that encompasses a broad range of strategies, including, without limitation, performing debt, distressed securities, hedge/arbitrage positions (including event arbitrage, related securities arbitrage, convertible arbitrage, commodities trading, and fixed income arbitrage trading), equity-oriented positions, basis trading, portfolio volatility protection positions, and real-estate related positions. The firm generally trades or invests in a wide variety of financial instruments, including, without limitation, stocks, bonds, swaps, options, futures, forwards, swaptions, private equity, and structured credit products, including MBS, ABS, CDOs and correlation products. Their trading mandates are extremely broad, and encompass virtually every type of asset, investment interest, security or property (real or personal) which can be traded or purchased. EMC is an activist firm and is included in the SharkWatch50 as one the 50 most prominent activist investors.

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Invesco Advisers provides a variety of services across a broad spectrum of investment strategies, sectors and asset classes, including domestic and foreign equities, fixed income, alternative, real estate and money market securities. They employ fundamental and quantitative investment techniques in implementing these strategies. Their traditional equity management extends across a variety of market-cap ranges and investment styles. The firm's Flex Asset Allocation method combines bottom-up and quantitative research and is applied to portfolios in which client guidelines prescribe a specific allocation range or allow Invesco full discretion on asset mix. Invesco Advisers' fixed-income products cover a variety of duration ranges and sectors. In the short end of the market, the firm provides cash management and stable value investments. The firm's fixed-income products include high yield, international and convertible bonds.

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BlackRock Advisors offers investors around the world a variety of investment products that span across asset classes, market-caps, investment styles and geographic regions. The product range also includes sector funds, long-only and long/short portfolios, as well as products that combine different strategies to create balanced, multi asset and asset allocation portfolios. The firm offers strategies for investments in equities, fixed-income, cash management, multi-asset classes, and alternative investments. BlackRock Advisors manages a full range of equity strategies that cover the entire risk/return spectrum. They also offer opportunities that target specific market sectors, as well as asset allocation and balanced investment strategies. They offer fixed-income strategies designed to meet an array of client risk/return profiles and to add value in all market environments. Their fixed-income investment strategy is based on a globally-integrated approach to information sharing and risk management. Blackrock Advisors utilize fixed income strategies that are actively managed or model or index based. They often consider credit ratings when analyzing bonds, notes and other debt-related investments for client accounts.

Recent Transactions
Details Hidden

Carrizo Oil & Gas Inc. purchases Devon Energy Production Co. LP /Delaware Basin from Devon Energy Corporation

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Global Infrastructure Management Participation LLC, Global Infrastructure Management LLC purchase EnLink Midstream Partners LP from Devon Energy Corporation

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Global Infrastructure Management Participation LLC, Global Infrastructure Management LLC purchase Enlink Midstream Manager LLC from Devon Energy Corporation

Insider Transactions
Details Hidden
Transaction Advisors
Legal Advisor

Advised onBP Plc purchases Devon Energy Corp. /Brazil, Azerbaijan & US Deepwater Ops from Devon Energy Corporation

Accountant

Advised onDevon Energy Corporation purchases Ocean Energy, Inc. (Texas)

Investment Advisor

Advised onGEPetrol purchases Devon Energy Corp. /Equatorial Guinea Oil & Gas Bus from Devon Energy Corporation

Legal Advisor

Advised onBP Plc purchases Devon Energy Corp. /Brazil, Azerbaijan & US Deepwater Ops from Devon Energy Corporation

Legal Advisor

Advised onDevon Energy Corporation purchases Crosstex Energy, Inc. from Blackstone/GSO Capital Solutions Fund LP, Blackstone/GSO Capital Solutions Overseas Master Fund LP resulting in a new company EnLink Midstream LLC

Legal Advisor

Advised onDevon Energy Corporation purchases Crosstex Energy, Inc. from Blackstone/GSO Capital Solutions Fund LP, Blackstone/GSO Capital Solutions Overseas Master Fund LP resulting in a new company EnLink Midstream LLC

Advisors & Consultants
Legal Advisor

Partner at Skadden, Arps, Slate, Meagher & Flom LLP

Legal Advisor

Partner at Vinson & Elkins LLP

Legal Advisor

Partner at Vinson & Elkins LLP

Clients

Atmos Energy Corp. engages in the regulated natural gas distribution and pipeline and storage businesses. It operates through the Distribution, and Pipeline and Storage business segments. The Distribution segment comprises regulated natural gas distribution and related sales operations. The Pipeline and Storage segment includes the pipeline and storage operations of Atmos Pipeline-Texas division and natural gas transmission operations in Louisiana. The company was founded in 1983 and is headquartered in Dallas, TX.

Martin Midstream Partners LP engages in the diverse set of operations focused primarily in the United States Gulf Coast region. The firm collects, transports, stores and distributes the petroleum products and by-products. It operates through the following segments: Terminalling and Storage, Natural Gas Services, Sulfur Services, and Marine Transportation. The Terminalling and Storage segment offers storage, refining, blending, packaging, and handling services for producers and suppliers of petroleum products and by-products, including the refining of naphthenic crude oil and the blending and packaging of various grades and quantities of industrial, commercial, and automotive lubricants and greases. The Natural Gas Services segment distributes natural gas liquids. The Sulfur Services segment develops an integrated system of transportation assets and facilities relating to sulfur services. The Marine Transportation segment manages a fleet of inland marine tank barges, inland push boats and offshore tug, and barge unit that transport petroleum products and by-products. The company was founded in 2002 and is headquartered in Kilgore, TX.

Key Stats and Financials As of 2018
Market Capitalization
$13.4B
Total Enterprise Value
$14.7B
Earnings Per Share
$6.15
Revenue
$10.1B
Net Profit
$3.06B
EBITDA
$2.81B
EBITDAMargin
27.72%
Total Debt
$5.95B
Total Equity
$9.19B
Enterprise Value Sales
1.45x
Enterprise Value EBITDAOperating
5.24x
TEVNet Income
4.81x
Debt TEV
0.4x
Three Year Compounded Annual Growth Rate Of Revenue
-7.11%
Five Year Compounded Annual Growth Rate Of Revenue
-0.89%
Non-Profit Donations & Grants
Political Donations
$2,500
2012
$2,000
2012
$500
2012
Investments
Details Hidden

The Petroleum Place LLC engages in property acquisition and divestiture services, business operations software, and geospatial data solutions. It offers solutions specifically designed to help its clients acquire, develop, manage, divest, and account for oil and gas properties. The company was founded by Gary R. Vickers on January 28, 1999 and is headquartered in Denver, CO.

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Colt WTX Resources LLC engages in the exploration, development and production of oil and natural gas properties. The firm owns a non-op working interest in a drilling and development unit operated by Devon Energy. The company was founded on September 4, 2012 and is headquartered in Dallas, TX.

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Colt CTX Resources LLC Engages in the exploration, development and production of drills horizantal wells. The firm owns a non-op working interest in an Eagle Ford shale lease block operated by AWP Operating. The company is headquartered in Dallas, TX.

Suppliers
MarkWest Energy Partners LP Oil & Gas | Denver, Colorado

MarkWest Energy Partners LP engages in the business of gathering, processing and transportation of natural gas; the transportation, fractionation, storage and marketing of natural gas liquids; and the gathering and transportation of crude oil. It operates through four segments: Marcellus, Utica, Northeast and Southwest. The Southwest segment includes the operations of processing facilities in Corpus Christi, Texas. The Northeast segment assets include the Kenova, Boldman, Cobb, Kermit and the Langley natural gas processing complexes, NGL pipeline and Siloam NGL fractionation facility. The Marcellus segment includes gathering, processing and fractionation infrastructure in the liquids-rich area of the Marcellus Shale The Utica segment provides fractionation services. The company was founded in January 2002 and is headquartered in Denver, CO.

Forbes Energy Services Ltd. Oil & Gas | Alice, TX

Forbes Energy Services Ltd. provides drilling-related and production-related services to oil and natural gas companies. It operates through the Well Servicing and Fluid Logistics segments. The Well Servicing segment provides well maintenance services, including remedial repairs and removal and replacement of downhole production equipment; well workovers, including downhole repairs, re-completions and re-perforations; completion and swabbing activities; plugging and abandoning services; and testing of oil and natural gas production tubing. The Fluid Logistics segment utilizes its fleet of owned and leased fluid transport truck and related assets to provide, transport, store, and dispose of a variety of drilling and produced fluids. The company was founded by John E. Crisp, Janet L. Forbes and Charles C. Forbes, Jr. in September 2003 and is headquartered in Alice, TX.

TETRA Technologies, Inc. Industrial Machinery & Manufacturing | The Woodlands, TX

TETRA Technologies, Inc. is a geographically diversified oil and gas services company, engages in the completion of fluids and associated products and services. It operates through the following segments: Fluids, Production Testing, Compression, and Offshore. The Fluids division manufactures and markets clear brine fluids, additives, and associated products and services to the oil and gas industry. The Production Testing division provides frac flowback, production well testing, offshore rig cooling, and other associated services. The Compression division offers compression services and equipment for natural gas and oil production, gathering, transportation, processing, and storage. The Offshore segment is comprised of two operating segments: Offshore Services and Maritech. The Offshore Services segment provides down hole and subsea services, decommissioning and construction services, and conventional and saturation diving services. The Maritech segment refers to the limited oil and gas production operation. The company was founded on February 6, 1981 and is headquartered in The Woodlands, TX.

Competitors
Hess Corp. Oil & Gas - New York, NY

Hess Corp is an exploration and production company, which engages in exploration, development, production, transportation, purchase & sale of crude oil, natural gas liquids and natural gas with production operations. It operates through the following segments: Exploration and Production and Midstream. The Exploration and Production segment explores for, develops, produces, purchases and sells crude oil, natural gas liquids and natural gas. The Midstream segment provides fee-based services including crude oil and natural gas gathering, processing of natural gas and the fractionation of natural gas liquids, transportation of crude oil by rail car, terminaling and loading crude oil and natural gas liquids, and the storage and terminaling of propane, primarily in the Bakken shale play of North Dakota. The company was founded by Leon Hess in 1920 and is headquartered in New York, NY.

Continental Resources, Inc. Oil & Gas - Oklahoma City, OK

Continental Resources is a Top 10 petroleum liquids producer in the United States and the largest leaseholder in the nation’s premier oil play, the Bakken Play of North Dakota and Montana. Based in Oklahoma City, the company also has a leading presence in the Anadarko Woodford Play of Oklahoma and the Red River Units Play of North Dakota, South Dakota and Montana. Founded in 1967, Continental’s growth strategy has focused on crude oil since the 1980s. The company reported total revenues of $1.6 billion for 2011 and is on track to triple production and proved reserves from 2009 to 2014.

Pioneer Natural Resources Co. Oil & Gas - Irving, TX

Pioneer Natural Resources is a large independent oil and natural gas company that is focused on helping meet the world’s energy needs. We deliver strong production and reserve growth through onshore exploration and production in the United States, while providing opportunities for growth and enrichment for business partners, employees and the communities in which we operate. With a foundation of long-lived and stable properties providing steady growth, Pioneer’s advanced technology, strategic practices and integrated services model make us an industry leader in developing new resource plays, especially in Texas. Pioneer is one of the most active drillers in Texas’ Spraberry/Wolfcamp oil field in the Permian Basin and the Eagle Ford Shale play in South Texas. We are one of the largest natural gas operators in the Rockies and Mid-Continent regions with assets in the coal bed methane-rich Raton Basin as well as in the Hugoton and Texas Panhandle gas fields. Our operations include ongoing drilling programs in Texas’ liquids-rich Barnett Shale Combo play and in Alaska’s Oooguruk field, where Pioneer became the first independent operator to produce oil on the North Slope

Awards & Honors
Rank #216
2016
Fortune Magazine - Fortune 1000 Companies
Sponsored by Fortune Magazine
Rank #216
2016
Fortune Magazine - Fortune 500 Companies
Sponsored by Fortune Magazine
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