United States

Devon Energy Corp (DVN)

DVN on New York Consolidated

25 Sep 2017
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Latest Key Developments (Source: Significant Developments)

Devon Energy Corp to lay off 1,000 workers, 700 in Oklahoma City - ASSOPR
Tuesday, 16 Feb 2016 08:16pm EST 

Devon Energy Corp:Devon Energy has announced plans to lay off about 1,000 employees — including about 700 in Oklahoma City. - RTRS.The oil and natural gas company said in a statement Tuesday that the layoffs are due to "the current commodity price environment" and an effort to reduce expenses in order to remain financially flexible and competitive.The company had said in January that layoffs were planned as oil and natural gas prices remain weak.The company said the Oklahoma City layoffs are expected to be complete by Thursday.  Full Article

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

BRIEF-Devon Energy provides hurricane Harvey production update

* Devon Energy - ‍as precautionary measure for hurricane Harvey, co temporarily suspended operations and shut-in production across its entire Eagle Ford​