Devon completes the sale of ownership interests in EnLink Midstream to Global Infrastructure Partners (GIP), a leading global, independent infrastructure fund manager for $3.125 billion. In conjunction with the EnLink transaction, Devon’s board of directors authorized an increase in the company’s share-repurchase program to $4 billion.
Devon finalizes major asset divestiture program with total proceeds reaching $3.2 billion. Assets sold by the company included its 50% share in Access Pipeline and non-core E&P assets in the Midland Basin, East Texas, Anadarko Basin and the Mississippian in Northern Oklahoma.
Devon completes its acquisition of Felix Energy for $1.9 billion. The transaction secures 80,000 net acres in the most economic portion of the STACK oil play in Western Oklahoma, further expanding the company’s development drilling inventory.
Devon acquires 253,000 net acres in the Powder River Basin. The acquisition significantly enhances the company’s scale and growth potential in the stacked-pay oil fairway of the basin.
Dave Hager, most recently Devon’s chief operating officer, is elected president and chief executive officer upon the retirement of John Richels.
John Richels announces he will retire July 31, 2015. The board of directors elects Richels as board vice chairman and announces its intent for Chief Operating Officer Dave Hager to become CEO upon Richels’ retirement and for Richels to become chairman upon Larry Nichols’ retirement from the board in 2016.
Devon sells non-core assets in the U.S. and Canada, including its Canadian conventional business. The sales, for a combined $5.1 billion, are part of the company’s efforts to transform its portfolio to focus on oil.
In an accretive transaction for shareholders, Devon partners to form a master limited partnership (MLP) for most of the company’s U.S. midstream assets and all of the assets of Crosstex Energy. The new company is called EnLink, and Devon holds a controlling interest in both the MLP and its general partner (GP). Both entities are listed on the New York Stock Exchange.
Devon increases its quarterly cash dividend by 9 percent to 24 cents per common share.
Devon purchases 82,000 acres plus existing production in the Eagle Ford play of South Texas. Devon’s position, acquired from GeoSouthern Energy for $6 billion, places the company in the best part of one of North America’s world-class oil plays.
Devon increases its quarterly cash dividend by 10 percent to 22 cents per common share.
Devon increases its quarterly cash dividend by 18 percent to 20 cents per common share.
Devon increases its quarterly cash dividend by 6 percent to 17 cents per common share.
Chairman and Chief Executive Officer Larry Nichols takes the newly created position of executive chairman. President John Richels is elected to succeed Nichols as chief executive officer.
Devon strategically repositions as a North American Onshore exploration and production company. This process is completed in 2011 with the sale of offshore and international assets.
Devon increases its quarterly cash dividend by 14 percent to 16 cents per common share.
Devon increases its quarterly cash dividend by 25 percent to 14 cents per common share.
Devon acquires the oil and gas properties of Chief Holdings LLC. The $2.2 billion transaction expands Devon's dominant position in the Barnett Shale.
Devon increases its quarterly cash dividend by 50 percent to 11.25 cents per common share.
Devon increases its quarterly cash dividend by 50 percent to 7.5 cents per common share.
Devon initiates $2 billion non-core property divestiture program and begins repurchasing up to 10% of its common stock.
Devon declares a two-for-one stock split and transfers its common stock listing to the New York Stock Exchange.
Devon doubles its quarterly cash dividend to $0.05 cents per common share.
Devon's $5.3 billion merger with Ocean Energy Inc. creates the largest U.S. -based independent oil and gas producer with 4,000 employees worldwide.
Devon acquires Mitchell Energy & Development Corp. for $3.5 billion, adding the prolific Barnett Shale in north Texas to its portfolio and establishing the company as a leading independent processor of natural gas and natural gas liquids.