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.
The company's portfolio of oil and gas properties provides stable, environmentally responsible production and a platform for future growth. Pro forma for the Devon and WPX merger, the company’s fourth quarter 2020 daily production was approximately 300,000 barrels of oil, more than 125,000 barrels of natural gas liquids and about 920 million cubic feet of natural gas.
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 tenant 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 with four fundamental principles:
- Proven and responsible operator - we operate our business with the interests of our stakeholders and our environmental, social and governance values in mind.
- Premier, sustainable portfolio of assets - we own a portfolio of assets located in the United States. We strive to own premier assets capable of generating cash flows in excess of our capital and operating requirements, as well as competitive rates of return.
- Superior execution - we continually work to optimize the efficiency of our capital programs and production operations, with an underlying objective of reducing absolute and per unit costs and enhancing our returns. We also strive to leverage our culture of health, safety and environmental stewardship in all aspects of our business.
- Financial strength and flexibility - we strive to maintain a strong balance sheet, as well as adequate liquidity and financial flexibility, in order to operate competitively in all commodity price cycles. Capital allocation decisions are made with these principles in mind as we prioritize funding our core operations, protecting our investment-grade credit ratings and paying and growing our shareholder dividend.
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.
Because our people are the company’s most important resource, we develop employees’ knowledge and creativity, and we cultivate an atmosphere of inclusivity where everyone can share an idea and know that it will be heard.
In a competitive environment, this mantra might be pushed aside in some organizations. At Devon, we refuse to succumb to ethical lapses. We embrace honesty and uncompromised integrity as our foremost core value.
In our commitment to our stakeholders, we seek continuous improvement, as individuals and as a company. We do this through hard work and individual ownership of Devon’s goals and objectives.
We encourage teamwork and a culture of trust and goodwill, because a focused, fulfilled and engaged workforce brings more job satisfaction and ultimately a builds a more successful company.
We share a fundamental respect for the environment and constantly strive to improve the overall quality of life in the communities where we operate.