Profile: Devon Energy Corp (DVN.N)
23 May 2017
Devon Energy Corporation, incorporated on May 18, 1999, is an independent energy company. The Company controls EnLink Midstream Partners, L.P. (EnLink). The Company's segments include U.S., Canada and EnLink. The Company's U.S. and Canada segments are primarily engaged in oil and gas exploration and production activities. The Company is engaged primarily 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. EnLink is a master limited partnership (MLP) with a midstream business and operations located across the United States.
EnLink focuses on providing gathering, transmission, processing, storage, fractionation and marketing to upstream oil and natural gas producers. EnLink connects the wells of natural gas producers in its market areas to its gathering systems, processes natural gas for the removal of NGLs, fractionates NGLs into purity products and markets those products, transports natural gas and provides natural gas to a range of markets. EnLink also purchases natural gas from natural gas producers and other supply sources, and sells that natural gas to utilities, industrial consumers, other marketers and pipelines.
EnLink's assets are located in Texas, Oklahoma, Louisiana and Crude and Condensate assets. As of December 31, 2016, the Texas assets included transmission pipelines with a capacity of approximately 920 million cubic feet per day (MMcf/d), processing facilities with a total processing capacity of approximately 1.6 billion cubic feet per day (Bcf/d) and gathering systems with total capacity of approximately 2.3 Bcf/d. As of December 31, 2016, the Oklahoma assets included processing facilities with a total processing capacity of approximately 795 MMcf/d and gathering systems with total capacity of approximately 810 MMcf/d. As of December 31, 2016, the Louisiana assets included transmission pipelines with a capacity of approximately 3.5 Bcf/d, processing facilities with a total processing capacity of approximately 1.9 Bcf/d, gathering systems with total capacity of approximately 510 MMcf/d, 720 miles of liquids transport lines and four fractionation assets with total fractionation capacity of 175 MBbls/d. As of December 31, 2016, the Crude and Condensate assets included approximately 540 miles of crude oil and condensate pipelines with total capacity of approximately 116 thousand barrels per day (MBbls/d), 900 MBbls of above ground storage and eight condensate stabilization and natural gas compression stations with combined capacities of approximately 36 MBbls/d of condensate stabilization and 780 MMcf/d of natural gas compression.
The Company's properties include Barnett Shale, Delaware Basin, Eagle Ford, Heavy Oil, Rockies Oil and STACK. The Company's leases are located primarily in Denton, Johnson, Parker, Tarrant and Wise counties in north Texas. The Delaware Basin includes Bone Spring, Delaware, Wolfcamp and Leonard formations. As of December 31, 2016, the Company had three operated rigs. As of December 31, 2016, the Company had approximately 66,000 net acres located in DeWitt and Lavaca counties in south Texas. The Company's operations in Canada are focused on its heavy oil assets in Alberta, Canada. The Company's Canadian operation, Jackfish complex, is a thermal heavy oil operation in the non-conventional oil sands of east central Alberta. Pike oil sands acreage is located directly to the southeast of its Jackfish acreage in east central Alberta. In addition to Jackfish and Pike, it holds acreage and owns producing assets in the Bonnyville region, located to the south and east of Jackfish in eastern Alberta. Bonnyville is an oil development play that produces heavy oil by conventional means.
As of December 31, 2016, the Company's acreage in the Rockies included approximately 470,000 net surface acres, focused on oil opportunities in the Powder River Basin and the Wind River Basin. The STACK development, located primarily in Oklahoma's Canadian, Kingfisher and Blaine counties, is the Company's franchise asset. As of December 31, 2016, the Company had two primary fields in the area: the Woodford Shale and the Meramec.
Devon Energy Corp
333 W Sheridan Ave
OKLAHOMA CITY OK 73102-5010
Company Web Links
- BRIEF-Meritage Midstream subsidiary acquires Devon Energy’S midstream assets
- BRIEF-Devon CEO says well-positioned to deliver on 2017 and 2018 growth targets - conf call
- Devon Energy plans to divest $1 billion assets; profit beats
- CORRECTED-UPDATE 1-Devon Energy plans to divest $1 bln assets; profit beats
- BRIEF-Devon Energy reports qtrly total revenues $3,547 million