Devon Energy Corporation

Devon Energy Corporation

Devon Energy Corporation

Overview
Date Founded

1971

Headquarters

Corporation Trust Center,1209 Orange Street,Wilmington, DE 19801

Type of Company

Public

Employees (Worldwide)

4,900

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.

Contact Data
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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 & Corporate Controller

Vice President, Corporate Finance & Treasurer

Senior Vice President-Operations

Vice President-Public & Government Affairs

Board of Directors

Director at TransCanada Corp.

President & Chief Executive Officer at Oklahoma City University

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 & Owner at Valiant Exploration LLC

President & Owner at Cross Creek Energy Corp.

Operating Partner at Clayton Dubilier & Rice LLC

Co-Founder at Devon Energy Corporation

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Owners & Shareholders
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Invesco Advisers' 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' global value strategy begins with a quantitative screening process followed by fundamental analysis. Their Structured Products Group provides a broad range of stock selection, tactical asset allocation and combination products. Fundamentally-based forecasting models are developed based on intensive research. The output of these models is combined with objective risk forecasts in a portfolio construction process which is designed to create the optimal portfolio for the return/risk characteristics of each product.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 asset classes, market-caps, investment styles and geographic regions. The firm offers strategies for investments in equities, fixed-income, cash management, multi-asset classes, alternative investments and real estate.BlackRock 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. The firm actively manages style-specific portfolios that are created based on their proprietary research in each major equity asset class.BlackRock offers 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 employs a disciplined investment process that seeks to add value through: (1) relative value asset allocation, sector rotation and security selection (2) rigorous quantitative analysis and valuation of each security and portfolio as a whole and (3) intensive credit analysis and review. They do this while controlling portfolio duration within a narrow band relative to a benchmark index, where applicable.In addition, BlackRock offers alternative investment strategies that are designed to provide returns with low correlations to the broad equity and bond markets including private equity, real estate equity and debt, hedge funds-of-funds, single-strategy hedge funds, long-only absolute return strategies, commodities and structured products.BlackRock's global real estate capabilities span the capital market structure and include equity and debt products. The firm offers a diverse product line that includes dedicated property sector capabilities. These products are available to institutional and high-net-worth investors through commingled vehicles and separate accounts. BlackRock's real estate debt and equity strategies focus on global, US, European, Australian and Asian markets.The firm also offers multi-asset class investment strategies that blend traditional asset classes and alternative investments with customized return targets and risk levels. BlackRock offers relatively straightforward, as well as, sophisticated approaches that use a range of equity, fixed-income, alternative and derivative investment strategies that include prepared portfolios, portable alpha, tactical return, global tactical asset allocation and fund-of-fund alternatives.

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Victory Capital Management Inc., an investment advisory firm, manages assets for institutions and individuals. With over a century of investment management experience, Victory offers clients: Disciplined, market-tested investment processes CIO’s for each strategy, focusing on generating alpha and minimizing risk Quantitative and qualitative research Reliable service delivered by Sales and Client Relationship professionals A commitment to hold professionals accountable to meet client expectations and reward performance accordingly An environment to attract, develop and retain talented professionals

Recent Transactions
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Carrizo Oil & Gas Inc. purchases Devon Energy Corp. /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
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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 Vinson & Elkins LLP

Legal Advisor

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

Legal Advisor

Partner at Vinson & Elkins LLP

Clients

EnLink Midstream LLC engages in the gathering, transmission, processing, and marketing of natural gas and natural gas liquids, condensate and crude oil, as well as providing crude oil, condensate, and brine services to producers. It operates through the following segments: Texas, Oklahoma, Lousiana, Crude and Condensate, and Corporate. The Texas segment includes natural gas gathering, processing, and transmission activities in north Texas and the Permian Basin in west Texas. The Oklahoma segment includes the Partnership's natural gas gathering, processing, and transmission activities in Cana-Woodford, Arkoma-Woodford, Northern Oklahoma Woodford, Sooner Trend Anadarko Basin Canadian and Kingfisher Counties, South Central Oklahoma Oil Province, and Central Northern Oklahoma Woodford Shale areas. The Lousiana segment comprises of Partnership's natural gas pipelines, natural gas processing plants, storage facilities, and natural gas liquids assets located in Louisiana. The Crude and Condensate segment consists of Partnership's Ohio River Valley crude oil, condensate, and brine disposal activities in the Utica and Marcellus Shales. The Corporate segment includes unconsolidated affiliate investments in the Cedar Cove joint venture. The company was founded in October 2013 and is headquartered in Dallas, TX.

DCP Midstream LP engages in the business of gathering, compressing, treating, processing, transporting, storing and selling natural gas; producing, fractionating, transporting, storing and selling natural gas liquids (NGLs) and condensate; and transporting, storing and selling propane in wholesale markets. It operates through three segments: Gathering & Processing powerhouse, Logistics & Marketing, and Growth Projects. The Gathering & Processing powerhouse segment engages in gathering and processing of raw gas to make it marketable. The Logistics & Marketing segment consists of multiple downstream assets including fractionators, NGL pipelines, and NGL storage facilities. The Growth Projects segment includes Mewbourn 3, which is a cryogenic natural gas processing plant in the DJ Basin. The company was founded in August 2005 and is headquartered in Denver, CO.

Atmos Energy Corp. engages in the regulated natural gas distribution and pipeline and storage businesses. It operates its business through the following business segments: Distribution, Pipeline and Storage, and Natural Gas Marketing. The Distribution segment comprises regulated natural gas distribution and related sales operations in eight states. The Pipeline and Storage segment includes the pipeline and storage operations of Atmos Pipeline-Texas division and natural gas transmission operations in Louisiana. The Natural Gas Marketing segment relates to the discontinued natural gas marketing business. The company was founded in 1983 and is headquartered in Dallas, TX.

Key Stats and Financials As of 2017
Market Capitalization
$18.3B
Total Enterprise Value
$34.2B
Earnings Per Share
$1.7
Revenue
$13.8B
EBITDAMargin
24.82%
Enterprise Value Sales
2.48x
Enterprise Value EBITDAOperating
10x
TEVNet Income
38.55x
Debt TEV
0.3x
EBITDA
$3.42B
Net Profit
$888M
Total Debt
$10.4B
Total Equity
$14.1B
Three Year Compounded Annual Growth Rate Of Revenue
-7.72%
Five Year Compounded Annual Growth Rate Of Revenue
9.38%
Non-Profit Donations & Grants
Political Donations
$2,500
2012
$2,000
2012
$500
2012
Investments
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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.

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