Devon Energy Corporation is among the largest U.S.-based independent natural gas and oil producers. Based in Oklahoma City, Oklahoma, the company's operations are focused on North American onshore exploration and production. Devon is one of North America’s larger processors of natural gas liquids and owns natural gas pipelines and treatment facilities in many of the company’s producing areas.The company is ranked among Fortune's 500 largest corporations in America, and is also included on the publication's 100 Best Companies to Work For and Most Admired Companies lists. Devon is also included in the S&P 500 Index and trades on the New York Stock Exchange under the ticker symbol DVN. Wikipedia.
Devon Energy | Date: 2014-02-12
A method and system for enhancing petroleum production are provided, in which petroleum is displaced from a fractured formation by selectively injecting fluid into selected fractures in the formation without injecting into the other non-selected fractures. The injected fluid flows out into the fractured formation and enhances recovery from the non-selected fractures. Petroleum is selectively collected from the non-selected fractures.
Devon Energy | Date: 2015-06-29
A method and a system for obtaining information for imaging a subterranean formation are provided. The method comprises emitting sonic or percussive signals from one or more point source locations in or near the subterranean formation; detecting the signals at one or more receiver locations; and processing the signals to calculate the geometry of the ray paths travelled by the signals in the subterranean formation. The system comprises one or more signal sources for generating sonic or percussive signals; a receiver for receiving the signals; and a processor for processing the signals.
Agency: GTR | Branch: Innovate UK | Program: | Phase: Small Business Research Initiative | Award Amount: 150.00K | Year: 2010
NEW YORK (AP) — U.S. stocks made their biggest gain in more than a month on Friday as oil prices surged, lifting energy stocks. Tech stocks also climbed as Apple jumped the most since August. Energy companies soared after the price of U.S. crude jumped 9 percent. Oil prices reached their lowest level in 12 years earlier this week, but they jumped the last two days. The gain Friday, combined with a smaller increase the day before, gave the market its first weekly advance after three weeks of declines. It's been a dismal start to the year so far, and on Wednesday the Dow Jones industrial average tumbled as much as 565 points before recouping some of its loss. Much of the volatility has been driven by wild swings in the price of crude oil, which many investors see as a barometer for how well the global economy is doing. A sharp drop in oil prices over the last year and a half has decimated profits at oil companies, and many expect the damage to continue as global production of oil far outstrips demand. As for market turbulence, many expect more of that, too. Jim Paulsen, chief investment strategist for Wells Capital Management, said he thinks the S&P 500 will slide to around 1,800 before a real recovery comes. That's below even the darkest moments from Wednesday's midday swoon. "It's going to continue to be a struggle," he said. "Everyone will be convinced we're heading for recession, everyone will be convinced we're in a bear market." On Friday the Dow Jones industrial average rose 210.83 points, or 1.3 percent, to 16,093.51. The Standard & Poor's 500 index had its best day since early December, gaining 37.91 points, or 2 percent, to 1,906.90. The Nasdaq composite index made its biggest gain since September, adding 119.12 points, or 2.7 percent, to 4,591.18. For the week, the Dow rose 0.7 percent, the S&P 500 climbed 2 percent and the Nasdaq increased 2.3 percent. European markets also rose Friday on hopes for more economic stimulus from the region's central bank. In Japan, the Nikkei 225 index had its best day in four months as investors hoped the Bank of Japan will also step in. In energy trading, U.S. crude rose $2.66 to $32.19 a barrel in New York. Brent crude, a benchmark for international oils, rose $2.93, or 10 percent, to $32.18 a barrel in London. U.S. oil climbed 21 percent over the last two days and it has recovered about half its losses from earlier in the year. Among energy stocks, pipeline operator Kinder Morgan rose $1.46, or 10.5 percent, to $15.34 after it jumped 16 percent Thursday. Pipeline company Williams Cos. added $3.70, or 23.1 percent, to $19.74. Devon Energy gained $1.45, or 6 percent, to $25.63. Goldman Sachs analyst Jeffrey Currie said energy prices have fallen so far that the industry is making real cuts in production. "We are now at a price level that is creating real fundamental change," he said. Apple, which has lost about a quarter of its value in the last six months, rose $5.12, or 5.3 percent, to $101.42. Microsoft gained $1.81, or 4 percent, to $52.29. Facebook added $3.78, or 4 percent. Japan's Nikkei 225 index rose 5.9 percent. Earlier this week the index entered a bear market, meaning it was down 20 percent from a recent peak. South Korea's Kospi gained 2.1 percent and Hong Kong's Hang Seng added 2.9 percent. Telecommunications and utilities stocks also rose and turned positive for the year. They're both up 1 percent while the other eight industrial sectors in the S&P 500 are much lower in 2016. Last year the S&P 500 utility index fell 8 percent and telecom stocks fell 2 percent. Paulsen, of Wells Capital Management, said investors turn to utilities and telecom stocks when the market gets rough. Companies in those industries pay relatively large dividends, which means their prices are more stable and the stocks behave almost like bonds. "They are just the most conservative sector of the stock market," he said. American Express gave a negative outlook for 2016 and 2017. The company expects its earnings per share to fall this year even though it's selling credit card accounts tied a co-branded credit card it offers with Costco. That relationship is ending.
News Article | August 22, 2016
Devon Energy Corp., Oklahoma City, now says it plans to add as many as 7 operated rigs to its acreage in the STACK play of Oklahoma and Delaware basin of Texas during the second half, with resulting incremental production seen in early 2017.