Devon Energy Corporation is a leading independent oil and natural gas exploration and production company. Devon's operations are focused onshore in the United States and Canada.
The company's portfolio of oil and gas properties provides stable, environmentally responsible production and a platform for future growth. Devon has more than doubled its onshore North American oil production since 2011. Today the company produces approximately 250,000 barrels a day and has a deep inventory of development opportunities to deliver future oil growth. Devon also produces about 1.2 billion cubic feet of natural gas a day and about 100,000 barrels of natural gas liquids per day.
Devon is focused on the following strategic priorities intended to optimize returns and deliver top-tier, capital-efficient cash-flow growth:
- Maximize cash flow by optimizing base production and reducing per-unit cash costs
- Improve capital efficiency with a concentration of investment on the highest-returning development projects in the Delaware Basin and STACK plays
- Simplify our portfolio by monetizing non-core assets
- Improve financial strength by reducing debt
- Return cash to shareholders
Headquartered in Oklahoma City, Devon is a Fortune 500 company and is included in the S&P 500 Index. Its common shares trade on the New York Stock Exchange under the ticker symbol DVN.
Devon is a results-oriented oil and gas company that builds value for shareholders through our employees by creating a culture of health, safety and environmental stewardship in an atmosphere of optimism, teamwork, creativity and resourcefulness and by dealing with everyone in an open and ethical manner.
To be the premier independent oil and natural gas company in North America.
Our belief that our people are our most important asset provides the foundation for all of our values and convictions. Our extensive portfolio of corporate resources is, however, not enough to make us "the best." To be the best, we need the best people – people who are always striving to obtain more and to maximize value for our company.
The most important of our values, integrity, defines the core of every relationship we have. Whether inside the company or outside the company, integrity establishes the trust that is critical to the relationships that make our values work. Embracing honesty and integrity as our most important value means we stick by our word and we will always do the right thing, even when no one is looking.
As stewards of a public company, it is our job to constantly strive to increase shareholder value. That is why we have to be results-driven with a clear focus on achievement. By conducting our business with a sense of urgency, we will remain more agile than companies a fraction of our size with the result that "big" will never mean slow.
A central value of our company is the belief that teamwork and collaboration will create a better organization, provide more fulfillment for employees, significantly reduce bureaucracy and dramatically improve results. Teamwork and cooperation increases nimbleness, enhances effectiveness and helps to create an atmosphere of trust and goodwill that directly results in better performance.
With the continued expansion of our business, the spectrum of communities that are touched by our operations continually broadens. That is why we have a fundamental respect for the environment and the people and communities in which we operate.