Profile: Devon Energy Corp (DVN.N)

DVN.N on New York Stock Exchange

22 May 2015
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Devon Energy Corporation (Devon), incorporated on May 18, 1999, is an independent energy company engaged in the exploration, development and production of oil, natural gas and natural gas liquids (NGLs). The Company's operations are concentrated in various North American onshore areas in the United States and Canada. At December 31, 2014, Devon had 689 Million Barrels of Oil Equivalent (MMBoe) of proved undeveloped reserves. The Company operates through three segments: U.S., Canada and EnLink. The Company's projects in North America include Anadarko Basin, Barnett Shale, Mississippian-Woodford Trend, Permian Basin, Rockies and Canadian Heavy Oil. EnLink's operations consist of midstream assets and operations located across the United States.

The acreage of the Company's Anadarko Basin project is located in Oklahoma's Canadian, Blaine and Caddo counties. The Anadarko Basin is a non-conventional reservoir and produces natural gas, NGLs and condensate. Its leases in Barnett Shale are located in Denton, Johnson, Parker, Tarrant and Wise counties in north Texas. Barnett Shale is a non-conventional reservoir, producing natural gas, NGLs and condensate. The Eagle Ford is a light-oil play, which has produced approximately 24 MMBoe with oil accounting for 61% of production from the play. The Company has approximately 82,000 net acres located in the DeWitt and Lavaca counties in south Texas. In addition, the Company has 100% interest in the Victoria Express Pipeline (VEX) in south Texas. The VEX pipeline is a 56 mile crude oil pipeline from the Eagle Ford to the Port of Victoria terminal. The Company's leases in the Mississippian-Woodford Trend are located in north central Oklahoma targeting oil in the Mississippian Lime and Woodford Shale. The Permian Basin has been a legacy asset for Devon and continues to offer exploration and development opportunities from many geologic reservoirs and play types, including the oil-rich Bone Spring, Wolfcamp Shale, Delaware and various conventional formations. The Company's operations are focused on emerging oil opportunities in the Powder River Basin and the Wind River Basin. In the Powder River, the Company is targeting several Cretaceous oil objectives, including the Turner, Parkman and Frontier formations.

In Canada, the company has two main projects, Jackfish and Pike, located in Alberta, Canada. In addition, its Lloydminster properties are located to the south and east of Jackfish in eastern Alberta. Jackfish is its thermal heavy oil project in the non-conventional oil sands of east central Alberta. Its Pike oil sands acreage is situated directly to the southeast of its Jackfish acreage in east central Alberta and has similar reservoir characteristics to Jackfish. The Company has a 50% interest in the Access Pipeline transportation system in Canada. This pipeline system allows the Company to blend its heavy oil production with condensate or other blend-stock and transport the combined product to the Edmonton area for sale. In addition to its Jackfish and Pike projects, the Company hold acreage and producing assets in the Lloydminster region. Lloydminster produces heavy oil by conventional means, without the need for steam injection.

Company Address

Devon Energy Corp

333 W Sheridan Ave
OKLAHOMA CITY   OK   73102-5010
P: +1405.5528183
F: +1302.6555049

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