United States

Devon Energy Corp (DVN)

DVN on New York Consolidated

21 Feb 2017
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$0.89 (+2.01%)
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Latest Key Developments (Source: Significant Developments)

Devon Energy sells additional $1 bln in upstream assets
Monday, 6 Jun 2016 06:00am EDT 

Devon Energy Corp : Devon energy announces additional $1 billion of upstream asset sales . Entered into definitive agreements with undisclosed parties to monetize nearly $1 billion of non-core upstream assets in east texas . Says expects to incur minimal taxes associated with these transactions . Says largest transaction is an agreement to divest upstream assets in east texas for $525 million . Says company agreed to sell its non-core position in anadarko basin's granite wash area for $310 million . Says entered into an agreement to sell its overriding royalty interest across 11,000 net acres for $139 million .Additionally, devon is in advanced negotiations to sell its 50 percent interest in access pipeline in canada.  Full Article

CalPERS asks shareowners of Devon energy to support climate change risk reporting proposal
Thursday, 26 May 2016 06:32am EDT 

California Public Employees Retirement System : Asks shareowners of Devon Energy corp to support proposal 5 requesting climate change risk reporting . Iss, Glass Lewis have similarly recommended that investors vote for proposal no. 5 at the Devon Energy Corp. Annual meeting on June 8, 2016 Source (http://bit.ly/1TLniX4) Further company coverage: [DVN.N] ((Bengaluru Newsroom; +1 646 223 8780;)).  Full Article

Devon Energy Corp announces offering of common stock
Wednesday, 17 Feb 2016 04:08pm EST 

Devon Energy Corp:Intends to commence a registered public offering of 55,000,000 shares of its common stock, subject to market conditions.Also expects to grant the underwriters an option to purchase up to 8,250,000 additional shares of stock at the underwriters' election.Net proceeds from the offering are expected to be used for general corporate purposes, including bolstering the Company's liquidity position, reducing indebtedness and funding the Company's capital program.  Full Article

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

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

More From Around the Web

Devon Energy beats profit estimates as cost cuts pay off

Devon Energy Corp reported a bigger-than-expected quarterly profit, as the U.S. oil producer benefited from its cost-cutting initiatives.