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: 2016-07-28
A method and system for enhancing petroleum production are provided, in which a fracturing operation can be conducted in a formation through a string and then petroleum is displaced from the fractured formation by selectively injecting fluid into selected fractures in the formation while other non-selected fractures remain without fluid injection. 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.
News Article | May 3, 2017
Devon Energy Corp., Oklahoma City, reported total net earnings of $565 million in this year’s first quarter. Adjusted earnings totaled $217 million, while operating income was $706 million.
News Article | May 3, 2017
Oklahoma City, Okla., independent Devon Energy Corp. reported on plans to divest $1 billion-worth of upstream assets including noncore portions of the Barnett shale area focused mainly around Johnson County as well as other properties in the company’s US resource base.
News Article | May 5, 2017
Thunder Creek Gas Services LLC, a subsidiary of Meritage Midstream Services II LLC, has acquired midstream assets in the southern portion of Wyoming’s Powder River basin from Devon Energy Production Co. LP, a wholly owned subsidiary of Devon Energy Corp.
News Article | April 26, 2017
NEW YORK, NY / ACCESSWIRE / April 26, 2017 / Levi & Korsinsky, LLP announces it has commenced an investigation of Devon Energy Corporation (NYSE: DVN) concerning possible breaches of fiduciary duty. To obtain additional information, go to: http://zlk.9nl.com/devon-energy-dvn or contact Joseph E. Levi, Esq. either via email at [email protected] or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you. Levi & Korsinsky is a national firm with offices in New York, Connecticut, California, and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities lawsuits and have recovered hundreds of millions of dollars for aggrieved shareholders. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
News Article | May 4, 2017
DENVER--(BUSINESS WIRE)--Meritage Midstream Services II, LLC (“Meritage”) and its subsidiary Thunder Creek Gas Services, L.L.C. (“Thunder Creek”) today announced that Thunder Creek has acquired certain midstream assets located in the southern part of Wyoming’s Powder River Basin from Devon Energy Production Company, L.P., a wholly owned subsidiary of Devon Energy Corp. (NYSE: DVN) (“Devon”). These assets include approximately 115 miles of natural gas gathering pipeline and associated equipment and constitute substantially all of Devon’s midstream assets across Wyoming’s Powder River Basin. The transaction includes a new long-term dedication from Devon to Thunder Creek of 250,000 acres located in the basin. Thunder Creek now has operations throughout the Powder River Basin in and around most of the prolific resource plays, including the Turner, Teapot, Parkman, Sussex, Niobrara, Frontier and Mowry. Meritage also announced that two premier producers have awarded gathering and processing contracts to Thunder Creek for the majority of their 2017 Powder River Basin drilling programs. These operators control an estimated 400,000 to 600,000 net acres in the play. These transactions increase the number of acres dedicated to Thunder Creek — already the largest midstream provider in the Powder River Basin — to more than 1 million acres, which includes dedications from almost every active operator in the basin. As a result, Thunder Creek plans to expand processing capacity at 50 Buttes from 90 MMcf/d to 180 MMcf/d with a targeted in-service date of late 2017 or early 2018 and expects to add more than 49,000 horsepower of compression, add four to six new compressor stations and build 425 miles of gathering and transportation pipeline over the next five years. Thunder Creek expects to expand processing capacity by more than 390,000 MMcf/d in this same time period. “We have been working with Devon since we entered the Powder River Basin in 2013 and have developed a very strong relationship with both Devon and most of the active producers in the basin. We all share a common vision and mutual enthusiasm for the future of the Powder River Basin. We are very pleased to have earned the trust and confidence of numerous operators across the basin who value our ability to provide exceptional customer service, flexibility and the optionality producers need as they develop the basin’s stacked, liquids-rich formations. Economics in the basin are strong, and we are seeing activity ramp up as producers recognize the long-term value of the basin’s formations,” said Meritage CEO Steve Huckaby. Meritage assets in the Powder River Basin include over 1,000 miles of high- and low-pressure pipeline, the 50 Buttes Natural Gas Processing Complex near Gillette, Wyoming, and the 108-mile Thunder Creek NGL Pipeline, which connects the facilities at 50 Buttes to the Phillips 66 Powder River Pipeline for the delivery of natural gas liquids to Conway, Kansas, and the Phillips 66 fractionation and refining complex near Borger, Texas. Located in Campbell County, Wyoming, the 50 Buttes processing plant was expanded in August 2016 to a nameplate capacity of 90 million cubic feet (MMcf/d). Vinson & Elkins LLP provided legal counsel to Meritage on the transaction with Devon. Douglas S. Bland and Mark Brasher, partners in the Houston office, led the firm’s legal team. Based in Denver, Meritage Midstream provides oil and gas producers with a full complement of midstream services through affiliated companies that operate in the U.S. and Canada. Current areas of focus in the U.S. include Wyoming’s Powder River Basin and the Montney and Duvernay plays in northwestern Alberta and northeastern British Columbia. Capabilities include natural gas gathering, compression, treating and processing; NGL transportation and fractionation; crude oil gathering, blending and storage; and rail hub services for outbound crude oil and condensate. The company’s senior management team has more than 250 years of collective experience in the midstream business. Meritage Midstream affiliates are backed by total equity commitments of up to $800 million from investments managed by Riverstone Holdings LLC. Please visit www.meritagemidstream.com for more information. Riverstone is an energy- and power-focused private investment firm founded in 2000 by David M. Leuschen and Pierre F. Lapeyre, Jr. with approximately $34 billion of capital raised to date. Riverstone conducts buyout and growth capital investments in the exploration & production, midstream, oilfield services, power and renewable sectors of the global energy industry. With offices in New York, London, Houston and Mexico City, the firm has committed over $33 billion to more than 130 investments in North America, Latin America, Europe, Mexico, Africa and Asia. Visit www.riverstonellc.com for more information. Devon Energy is a leading independent energy company engaged in finding and producing oil and natural gas. Based in Oklahoma City and included in the S&P 500, Devon operates in several of the most prolific oil and natural gas plays in the U.S. and Canada with an emphasis on a balanced portfolio. The company is the second-largest oil producer among North American onshore independents. For more information, please visit www.devonenergy.com.
News Article | May 5, 2017
At a time when the Trump Administration is trying to undo as much clean energy and climate regulation as it can, many corporations are traveling in a different direction. There’s a distinct divergence between government and Fortune 500 these days on renewables and global warming, and, in turn, a divergence between Trump, mainstream financial markets, and much of global public opinion. Recently, we’ve seen iconic companies like Apple, Bank of America, Facebook, Google and Walmart make commitments for 100% renewable power (mostly solar and wind). And we’ve seen hundreds of others adopt Science Based Targets for climate change–that is, targets that accord with internationally agreed goals for reducing greenhouse gasses. We don’t know what long-term impact Trump’s climate-obliviousness might have–whether, for instance, it will normalize denial within American business–but so far he seems to have less dire consequences than environmentalists feared last November. “There’s real liability in being associated with the climate denial of this administration, in particular for the consumer sector,” says Anne Kelly, policy director at Ceres, a nonprofit that works with investors and companies to promote sustainability, in an interview. “What’s encouraging to me is the companies have stood up and said ‘no, we’re keeping our goals in place, we want to stay in the Paris Agreement, it’s going to make us competitive if we support low-carbon policies’.” More than 1,000 companies and investors have signed the “Business Backs Low-Carbon USA” pledge calling on Trump to help limit global temperatures below an increase of 2 degrees Celsius and for a continuation of the Obama Administration’s Clean Power Plan. Having said that, a new report from Ceres, WWF, Calvert Research & Management and CDP (the Carbon Disclosure Project) shows that progress on clean energy and climate goals is far from uniform. It’s true that many companies with no great love for Obama or Democratic politics are heavy investors in renewables and climate change action (companies like Walmart and Mars, for instance). But then commitments across wider American business vary widely. About half the 2016 Fortune 500 have set targets to reduce greenhouse gasses, or increase their energy efficiency or to up their sourcing of renewable energy. But that’s only a 5% increase compared to a previous report in 2014. While Apple, Bank of America and Facebook are making headlines, a lot of companies are still sitting on their heels. The report shows big gaps between industries. At one end, 72% of consumer staples giants (like Procter & Gamble) have made one of the three types of commitment (energy efficiency, climate or renewables). But, at the other end, only 11% of energy companies have one or more target, down from about 25% three years ago. (Some companies, like Chevron, Tesoro Petroleum, National Oilwell Varco, Devon Energy and Marathon Oil, have actually dropped targets since the last report.) “There is a lot of awareness among consumers and a lot of demand, and [consumer-facing] companies are responsive to that,” Lance Pierce, president of CDP North America tells Fast Company. Energy companies often say they need a “level playing field” before setting targets–for instance a regional, national, or international climate agreement that holds all sector companies to the same standard, Pierce says. Whether that’s simply a delaying tactic given that the current administration is unlikely to establish such a playing field is open to debate. Pierce says it could well be “disingenuous,” though he’s generally sympathetic to the complexity and “human fallibility” of big companies.”We understand that companies are fallible human institutions and that they need to get all their team onboard to make it work. On the other hand, a lot of other companies are doing it and setting a high bar for leadership, so there’s no reason why the other companies shouldn’t be doing it, too,” he says. Other industries rank in the middle, with 60% of real estate companies, 57% of IT companies, and 30% of financial companies having at least one of the targets. “Consumer Discretionary” businesses in the Fortune 500, including several automakers, also saw a reduction in target-setting since the last report in 2014.
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.
Devon Energy | Date: 2012-11-28
A method of booting a thin client computer does not require a technician to load an operating system and otherwise configure the thin client computer to permit operation thereof. The thin client computer is pre-loaded with a boot sequence in the read only memory that requires only that a kernel stored in the read only memory be activated. The kernel directs the thin client computer to a domain name server that provides the internet address of a file server from which the requisite operating system is obtained. After installation of the operating system, the domain name server is contacted to provide the address at which the thin client computer obtains application software and data storage capabilities from a remote server to complete the set-up of the thin client computer for operation. The remote server establishes a network application or remote virtual desktop for the operation of the thin client computer.