Key Developments: Devon Energy Corp (DVN.N)

DVN.N on New York Stock Exchange

12 Feb 2016
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Latest Key Developments (Source: Significant Developments)

Devon Energy Corp plans layoffs over next few months - AP
Thursday, 21 Jan 2016 02:31pm EST 

Devon Energy Corp:Devon Energy Corp. has announced that it is planning employee layoffs over the next few months - AP.Company executives made the announcement during a town hall meeting with employees Wednesday morning. Spokesman Tim Hartley said that the layoffs are a necessary part of cost management efforts for Devon as oil and natural gas prices remain weak. - AP.The company has not determined how many employees will lose their jobs, Hartley said, but that a majority of the layoffs will happen by the end of March - AP.According to a document filed with the Securities and Exchange Commission last year, Devon had about 5,500 employees as of Dec. 31, 2014. - AP.  Full Article

Devon Energy sharpens focus on core assets
Monday, 7 Dec 2015 06:00am EST 

Devon Energy Corp:Says it has agreed to acquire 80,000 net surface acres, with up to 10 prospective zones, in the Anadarko Basin STACK play from privately held Felix Energy, for $1.9 billion.Says in separate transaction, it has also agreed to acquire 253,000 net acres in the Powder River Basin for $600 million.Transactions will be funded with approximately $1.35 billion of Devon equity issued to sellers and approximately $1.15 billion of cash on hand and borrowings.  Full Article

Devon Energy Corp raises FY 2015 production guidance
Tuesday, 3 Nov 2015 04:15pm EST 

Devon Energy Corp:Raised FY 2015 oil production guidance by 2 pct to a mid-point of 276,000 barrels per day.Says Total oil production growth in FY 2015 is now expected to range from 31 to 33 percent.Due to the improving outlook for oil production, the Company has also raised its top-line production growth guidance for 2015 to a range of 8 to 10 percent.  Full Article

Devon Energy Corporation cuts 15 percent of staff in Canada - Reuters
Wednesday, 28 Oct 2015 03:35pm EDT 

Devon Energy Corporation:Devon Energy Corp has cut around 200 jobs, or 15 percent, of its staff in Canada following a significant reduction in capital spending, a company spokeswoman said on Wednesday - RTRS.There are approximately 1050 Devon employees remaining in Canada, spokeswoman Nadine Barber said, adding the layoffs were completed on Wednesday - RTRS.The Devon layoffs come after the completed expansion of the Oklahoma-based company's Jackfish oil sands project in northern Alberta, which has ramped up to around 75,000 barrels per day - RTRS.In total, Devon produces 98,000 bpd in Canada - RTRS.  Full Article

Devon Energy Corp announces fourth-quarter cash dividend for common stockholders
Wednesday, 16 Sep 2015 01:00pm EDT 

Devon Energy Corp:Declared a quarterly cash dividend on Devon's common stock for the fourth quarter.Payable on Dec. 31.Record date of Dec. 15.  Full Article

Devon Energy elects dave hager new president and CEO
Monday, 3 Aug 2015 08:30am EDT 

Devon Energy Corp:Completes leadership transition as board of directors elects dave hager new president and CEO, succeeding retiring john richels.Says hager succeeds john richels.  Full Article

Devon Energy Corp enters into underwriting agreement - Form 8-K
Tuesday, 16 Jun 2015 04:18pm EDT 

Devon Energy Corp:Entered into an underwriting agreement with Goldman, Sachs & Co. and J.P. Morgan Securities LLC, as representatives for underwriters.Pursuant to which the Company agreed to sell to the Underwriters $750 mln aggregate principal amount of its 5.000% senior notes due 2045.  Full Article

Devon Energy Corp declares quarterly cash dividend
Wednesday, 3 Jun 2015 11:00am EDT 

Devon Energy Corp:Declares quarterly cash dividend of $0.24 per share.Payable on Sept. 30 on record date of Sept. 15.  Full Article

Devon Energy Corp raises FY 2015 production guidance
Tuesday, 5 May 2015 04:15pm EDT 

Devon Energy Corp:Increases FY 2015 oil production growth outlook to range of 25 pct to 35 pct.  Full Article

EnLink Midstream Partners LP agrees to acquire Victoria Express Pipeline in dropdown transaction from Devon Energy
Monday, 23 Mar 2015 06:06pm EDT 

EnLink Midstream Partners LP:Enters into an agreement to acquire the Victoria Express Pipeline and related truck terminal and storage assets from Devon Energy Corporation.Total consideration for transaction is about $210-$220 mln, including about $171 mln in cash, about 338,000 of the Partnership's common units and EnLink's assumption of about $30-$40 mln in certain construction costs to expand the system to full capacity, subject to adjustments.Transaction, which is expected to close on or about April 1 is expected to be immediately accretive to the Partnership.  Full Article


BP buys New Mexico oil and gas assets from Devon Energy

HOUSTON BP Plc on Friday said its U.S. onshore unit has acquired all of Devon Energy Corp's oil and gas properties in the San Juan Basin in New Mexico for an undisclosed price.

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