Operations:

Devon Energy is a leading independent energy company engaged in finding and producing oil and natural gas. Based in Oklahoma City, the company operates in several of the most prolific oil and natural gas plays in the U.S. with an emphasis on achieving strong returns and capital-efficient cash-flow growth.

Devon's operations are focused in five core areas: the Delaware Basin, Eagle Ford, Anadarko Basin, Powder River Basin and Williston Basin. The company's assets in these top-tier resource plays provide a deep inventory of opportunities.

a) Delaware Basin

Devon’s operations in the Delaware Basin of southeast New Mexico and west Texas provide both oil and natural gas production from its core acreage position consisting of approximately 400,000 net acres across multiple formations. Horizontal drilling with extended-reach laterals and multi-zone developments are being used to unlock the vast resource that still remains in this historic oil and natural gas field.

Devon’s current focus is in the oil-rich Wolfcamp, Bone Spring, Avalon and Delaware formations. Drilling activity is yielding outstanding well productivity, driving high-margin growth for the company. With a significant inventory of oil and liquids-rich drilling opportunities that have multi-zone development potential, Devon has a robust platform for future growth.

b) Eagle Ford

Devon’s Eagle Ford operations are located in DeWitt and Karnes counties. This world-class light-oil position is delivering outstanding well results offering some of the highest rate-of-return drilling opportunities in North America.

The company’s acreage is essentially derisked with at least one well drilled in each drilling unit. Activity in DeWitt and Karnes have consistently delivered industry-leading results, making it the economic sweet spot in the Eagle Ford play. Devon's Eagle Ford production is leveraged to oil and has low-cost access to premium gulf coast pricing, providing for very solid operating margins.

c) Anadarko Basin

The company's Anadarko Basin activity is located primarily in Oklahoma’s Canadian, Kingfisher and Blaine counties. Our position is one of the largest in the industry, providing substantial long-term inventory optionality. Our contiguous acreage footprint is primarily located in the over-pressured oil window, the economic heart of the play. Devon's operations are currently focused in the oil-prone Meramec and the liquids-rich Cana-Woodford Shale.

d) Powder River Basin

Devon's Rocky Mountain operations are focused on its oil opportunities in the Powder River Basin. The company is currently targeting several Cretaceous oil objectives, including the Turner, Parkman, Teapot and Niobrara formations. Recent drilling success in these formations has expanded Devon's drilling inventory.

e) Williston Basin

Devon’s Williston Basin position consists of approximately 430,000 net acres. The company’s operations are focused in the oil-prone Bakken and Three Forks formations.

f) Well Safety

Ensuring well integrity

Devon uses proven best practices, technologies, tools and materials to protect people and the environment throughout the life cycle of our oil and natural gas wells.

Well integrity starts with the planning and design of the wellbore, including the selection of equipment, materials and drilling techniques. Devon designs our wells to meet high standards for the strength of the steel pipes that form the well, known as casing, and the quality and quantity of cement we use to separate and protect the multiple layers of casing. This attention to well construction keeps fluids in their proper place and protects groundwater zones for the life of the well.

During drilling operations, pressure tests confirm casing integrity. Acoustic measurements let us know that the cement is properly bonded to the casing and to the surrounding rock formation. Employees working in our Well Construction area are focused on optimizing drilling and completion engineering, monitoring Devon wells and making adjustments to prevent issues before they occur.

Devon continues to verify the well’s integrity during production operations by monitoring tubing and casing pressures and by analyzing gas and water produced by the well. We also conduct periodic pressure tests and casing inspections.

We determine the drilling fluids to be used during the design phase before we drill a well. We conduct regular well-control drills on our drilling rigs and audit drills as part of our field review process. To prevent spills, Devon follows local, state and federal guidelines when handling drilling fluid and mud systems.

After a well is drilled, we use the hydraulic fracturing process to complete it. Water, sand and additives are pumped into the wellbore to create or restore small fractures in the rock to stimulate production from new or existing oil and gas wells. Water and sand make up 98% to 99.5% of the mixture. A full registry of wells and chemical additives, along with much more information about hydraulic fracturing, is available at fracfocus.org. Devon played a leading role in creating Frac Focus in 2011 and has remained a major contributor to the site.

We regularly communicate Devon’s environmental, health and safety policies, protocols and operational expectations for well safety in safety tailgate meetings at field locations. We pride ourselves on work safety and empowerment; all our crews have Stop Work Responsibility. Anyone can stop a job at any time if the person notices a potential hazard or is unsure about a task. This workplace culture helps keep people safe and protects the environment by reducing the risk of spills and emissions.

g) Marketing & Midstream

Devon's marketing function is responsible for the sale of its oil, gas and natural gas liquids (ethane, propane, butane and natural gasoline), as well as other related activities such as transportation, storage, processing and treating of hydrocarbons. Employees at the company's headquarters in Oklahoma City perform these marketing functions for Devon's production.

The company's midstream function is responsible for the construction and operation of pipelines, storage and treating facilities and compression and gas processing plants. 

h) Contractors, Suppliers & Vendors

Devon is a leading independent oil and natural gas company engaged in the exploration, development, and production of oil, natural gas, and natural gas liquids. Our contractors, suppliers, and vendors (collectively referred to on this site as “contractors”) play a vital role in the achievement of Devon’s vision to be the premier independent oil and natural gas company. We pride ourselves on a culture of integrity that defines our relationship with our contractors, as well as sets the standards of operating ethically in a socially and environmentally responsible manner. We expect high quality, environmentally sound and safe work from our contractors, which requires our contractors to provide and retain quality personnel who are adequately trained to perform their jobs safely.

Devon works with a variety of contractors to maintain our daily operations across the U.S. This area of our site covers information for current and potential contractors. Devon does not pre-qualify contractors. It is company policy to use only contractors who have completed Devon’s supplier qualification process and become approved. The supplier qualification process begins with your company being awarded work by Devon. Once awarded, you may be required to sign an agreement, provide insurance, and meet Devon's Environmental, Health, & Safety (EHS) Requirements.

Vision Statement

To be the premier independent oil and gas company in North America.

Mission Statement

Devon is a results-oriented energy company. We build value for shareholders through our employees by creating a culture of health, safety and environmental stewardship. We cultivate an atmosphere of optimism, teamwork, creativity and resourcefulness by dealing with everyone in an open and ethical manner.

Strategic Priorities

Our business strategy is focused on delivering a consistently competitive shareholder return among our peer group. Because the business of exploring for, developing and producing oil and natural gas is capital intensive, delivering sustainable, capital efficient cash flow growth is a key tenet to our success. While our cash flow is highly dependent on volatile and uncertain commodity prices, we pursue our strategy throughout all commodity price cycles by focusing on the following strategic priorities:

Operating excellence

• Operating safely, reliably and in an environmentally responsible manner

• Embrace innovative thinking and technology to improve business performance

Advantaged asset portfolio

• Diversified multi-basin portfolio in top U.S. resource plays

• High-quality inventory depth underpins long-term sustainability

Maintaining financial strength

• Disciplined reinvestment to maximize free cash flow

• Committed to maintaining low leverage (<1.0x debt-to-EBITDAX)

Delivering value to shareholders

• Dedicated to sustainable, annual growth in fixed dividend

• Enhancing return of capital with a share buyback program

Cultivating a culture to succeed

• Valuing and investing in our employees

• Being a good steward to the communities we operate in

Purpose

We provide energy that fuels modern life.

Devon Values

• INTEGRITY
• RELATIONSHIPS
• COURAGE
• RESULTS

Openness and honesty unite us and are at the core of everything we do.