Devon, PA, United States
Devon, PA, United States

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.

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News Article | May 25, 2017
Site: www.forbes.com

The Organization of Petroleum Exporting Countries has spoken, agreeing to keep its oil production cuts in place for another nine months. The move disappointed some investors, who were expecting deeper or longer cuts, leading oil prices to fall around 5% and taking many oil and gas stocks down with it. All of which begs the question: Is it time to get back in? Oil and gas stocks were already on a downward slope over the last three weeks, despite a 7% rally in oil prices before the OPEC announcement. In fact, as of Wednesday, the S&P 500 Energy Sector Index was less than 3% away from its 52-week low, Seaport Global Securities noted in a report. This happens less than a quarter of the time when crude rallies 5% to 10% in a multi-week period. Usually a crude rally of that magnitude leads the energy index to rally around 2.5%, Seaport says. The situation could bode well for the index going forward, with Seaport predicting strong returns over the next month or so of around 7%. "The fact we are seeing a 'sell the news scenario' from the commodity off the OPEC meeting further supports that the energy sector has likely flushed out [and] will now play catch-up and bear strong returns short- to medium-term," the firm said. So which stocks to pick up? Among the bigger oil and gas explorers, Seaport has buy ratings on Continental Resources Inc., Cabot Oil & Gas Corp., Concho Resources Inc., Devon Energy Corp. and Diamondback Energy Inc. Cabot and Diamondback in particular could be strong bets, having recently ranked as two of most efficient companies in Seaport's universe based on their "recycle" ratio, or return on capital, and production growth per debt-adjusted share. Smaller companies that are on Seaport's buy and efficient lists include Parsley Energy, RSP Permian and Comstock Resources. Looking for value? Seaport put together a list of companies that trade below the median enterprise value-to-expected 2017 Ebitda multiple despite having above median values for return on capital and production growth. The group includes eight names but only five carry buy ratings. They are Comstock, Abraxas Petroleum Corp., Carrizo Oil & Gas, Oasis Petroleum and Resolute Energy Corp. The others are Bill Barrett Corp. (neutral), Consol Energy (not rated) and Rice Energy (neutral).


Patent
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 10, 2017
Site: news.yahoo.com

A pumpjack brings oil to the surface in the Monterey Shale, California, in a file photo. REUTERS/Lucy Nicholson WASHINGTON (Reuters) - The U.S. Senate on Wednesday rejected a resolution to revoke an Obama-era rule to limit methane emissions from oil and gas production on federal lands, dealing a blow to President Donald Trump's efforts to free the drilling industry from what he sees as excessive environmental regulation. The Congressional Review Act resolution received just 49 votes after Republican leaders scrambled for weeks to secure the 51 needed to pass it. The resolution would have revoked the rule and prevented similar regulations from being introduced. Getting the Trump administration to repeal the BLM rule had been a top priority of the oil and gas industry. Companies said it was unnecessary, would could cost them tens of thousands of dollars per well and hinder production. But not all Republicans supported the measure, in part because it would have made regulating methane waste more difficult in the future. Republican Senator John McCain of Arizona made a surprise vote against the resolution, joining fellow Republicans Lindsey Graham of South Carolina and Susan Collins of Maine in opposition to torpedo it. "While I am concerned that the BLM rule may be onerous, passage of the resolution would have prevented the federal government, under any administration, from issuing a rule that is ‘similar’," McCain said in a statement. He said the Interior Department should issue a new rule on to replace the existing one on methane leaks, which he called a public health and air quality issue. The rule, finalized by President Barack Obama in his last weeks in office, updated 30-year-old regulations that govern flaring, venting and natural gas leaks from oil and gas production. Obama's administration said it would preserve up to 41 billion cubic feet (BCF) of natural gas per year that is currently lost to leaks and flaring. The American Petroleum Institute and other industry groups have said the methane rule is unnecessary because companies have made strides in reducing leaks on their own. "The rule could impede U.S. energy production while reducing local and federal revenues," said Erik Milito, API's Upstream and Industry Operations Group Director. Members of the Western Energy Alliance, which include Devon Energy , Whiting Petroleum and EOG Resources had also been strongly opposed to the rule. Environmental groups hailed what they depicted as a rare victory for the environment after several regulatory rollbacks by the Trump administration. “In recent months, thousands of Americans asked the Senate to stand up for clean air and against the oil lobby, and their efforts were successful today," said Jamie Williams, president of the Wilderness Society. The Western Values Project estimated that if the rule had been rescinded, the U.S. Treasury would have lost out on $800 million in lost potential royalties from leaked or vented natural gas over the next decade. Republican Senator John Barrasso of Wyoming, chairman of the Senate Committee on Environment and Public Works who supported the resolution to kill the rule, called on Interior Secretary Ryan Zinke to act unilaterally to revoke it.


News Article | May 10, 2017
Site: globenewswire.com

NEW YORK, May 10, 2017 (GLOBE NEWSWIRE) -- Guggenheim Securities, the investment banking and capital markets division of Guggenheim Partners, announced today that Jeremy Griggs has joined the firm as a Managing Director in the firm’s Houston-based Oil and Gas Investment Banking group.  Mr. Griggs joins Guggenheim from Lazard where he led the technical team within the Upstream Oil and Gas Investment Banking group. Prior to Lazard, he served as technical advisor in the Energy and Power Group at Bank of America Merrill Lynch. Before beginning his career in financial services, Mr. Griggs worked in the oil and gas industry as an engineer at Devon Energy, El Paso Exploration & Production, Dominion Exploration & Production, and Chevron (Unocal Corporation). “We are pleased to welcome Jeremy to Guggenheim,” said Mark Van Lith, Co-CEO and Head of Investment Banking at Guggenheim Securities. “Jeremy’s extensive technical background and deep understanding of oil and gas assets will augment the strength of our energy team.” Mr. Griggs received his M.S. in Petroleum Engineering from Louisiana State University as well as his B.S. from Louisiana State University. He is based in Guggenheim’s Houston office. Guggenheim Partners is a global investment and advisory firm with more than $260 billion1 in assets under management. Across our three primary businesses of investment management, investment banking, and insurance services, we have a track record of delivering results through innovative solutions. With more than 2,300 professionals based in more than 25 offices around the world, our commitment is to advance the strategic interests of our clients and to deliver long-term results with excellence and integrity. We invite you to learn more about our expertise and values by visiting GuggenheimPartners.com and following us on Twitter at twitter.com/guggenheimptnrs. 1 Assets under management are as of 3.31.2017 and include consulting services for clients whose assets are valued at approximately $59bn.


News Article | May 10, 2017
Site: globenewswire.com

NEW YORK, May 10, 2017 (GLOBE NEWSWIRE) -- Guggenheim Securities, the investment banking and capital markets division of Guggenheim Partners, announced today that Jeremy Griggs has joined the firm as a Managing Director in the firm’s Houston-based Oil and Gas Investment Banking group.  Mr. Griggs joins Guggenheim from Lazard where he led the technical team within the Upstream Oil and Gas Investment Banking group. Prior to Lazard, he served as technical advisor in the Energy and Power Group at Bank of America Merrill Lynch. Before beginning his career in financial services, Mr. Griggs worked in the oil and gas industry as an engineer at Devon Energy, El Paso Exploration & Production, Dominion Exploration & Production, and Chevron (Unocal Corporation). “We are pleased to welcome Jeremy to Guggenheim,” said Mark Van Lith, Co-CEO and Head of Investment Banking at Guggenheim Securities. “Jeremy’s extensive technical background and deep understanding of oil and gas assets will augment the strength of our energy team.” Mr. Griggs received his M.S. in Petroleum Engineering from Louisiana State University as well as his B.S. from Louisiana State University. He is based in Guggenheim’s Houston office. Guggenheim Partners is a global investment and advisory firm with more than $260 billion1 in assets under management. Across our three primary businesses of investment management, investment banking, and insurance services, we have a track record of delivering results through innovative solutions. With more than 2,300 professionals based in more than 25 offices around the world, our commitment is to advance the strategic interests of our clients and to deliver long-term results with excellence and integrity. We invite you to learn more about our expertise and values by visiting GuggenheimPartners.com and following us on Twitter at twitter.com/guggenheimptnrs. 1 Assets under management are as of 3.31.2017 and include consulting services for clients whose assets are valued at approximately $59bn.


News Article | May 10, 2017
Site: globenewswire.com

NEW YORK, May 10, 2017 (GLOBE NEWSWIRE) -- Guggenheim Securities, the investment banking and capital markets division of Guggenheim Partners, announced today that Jeremy Griggs has joined the firm as a Managing Director in the firm’s Houston-based Oil and Gas Investment Banking group.  Mr. Griggs joins Guggenheim from Lazard where he led the technical team within the Upstream Oil and Gas Investment Banking group. Prior to Lazard, he served as technical advisor in the Energy and Power Group at Bank of America Merrill Lynch. Before beginning his career in financial services, Mr. Griggs worked in the oil and gas industry as an engineer at Devon Energy, El Paso Exploration & Production, Dominion Exploration & Production, and Chevron (Unocal Corporation). “We are pleased to welcome Jeremy to Guggenheim,” said Mark Van Lith, Co-CEO and Head of Investment Banking at Guggenheim Securities. “Jeremy’s extensive technical background and deep understanding of oil and gas assets will augment the strength of our energy team.” Mr. Griggs received his M.S. in Petroleum Engineering from Louisiana State University as well as his B.S. from Louisiana State University. He is based in Guggenheim’s Houston office. Guggenheim Partners is a global investment and advisory firm with more than $260 billion1 in assets under management. Across our three primary businesses of investment management, investment banking, and insurance services, we have a track record of delivering results through innovative solutions. With more than 2,300 professionals based in more than 25 offices around the world, our commitment is to advance the strategic interests of our clients and to deliver long-term results with excellence and integrity. We invite you to learn more about our expertise and values by visiting GuggenheimPartners.com and following us on Twitter at twitter.com/guggenheimptnrs. 1 Assets under management are as of 3.31.2017 and include consulting services for clients whose assets are valued at approximately $59bn.


News Article | May 10, 2017
Site: globenewswire.com

NEW YORK, May 10, 2017 (GLOBE NEWSWIRE) -- Guggenheim Securities, the investment banking and capital markets division of Guggenheim Partners, announced today that Jeremy Griggs has joined the firm as a Managing Director in the firm’s Houston-based Oil and Gas Investment Banking group.  Mr. Griggs joins Guggenheim from Lazard where he led the technical team within the Upstream Oil and Gas Investment Banking group. Prior to Lazard, he served as technical advisor in the Energy and Power Group at Bank of America Merrill Lynch. Before beginning his career in financial services, Mr. Griggs worked in the oil and gas industry as an engineer at Devon Energy, El Paso Exploration & Production, Dominion Exploration & Production, and Chevron (Unocal Corporation). “We are pleased to welcome Jeremy to Guggenheim,” said Mark Van Lith, Co-CEO and Head of Investment Banking at Guggenheim Securities. “Jeremy’s extensive technical background and deep understanding of oil and gas assets will augment the strength of our energy team.” Mr. Griggs received his M.S. in Petroleum Engineering from Louisiana State University as well as his B.S. from Louisiana State University. He is based in Guggenheim’s Houston office. Guggenheim Partners is a global investment and advisory firm with more than $260 billion1 in assets under management. Across our three primary businesses of investment management, investment banking, and insurance services, we have a track record of delivering results through innovative solutions. With more than 2,300 professionals based in more than 25 offices around the world, our commitment is to advance the strategic interests of our clients and to deliver long-term results with excellence and integrity. We invite you to learn more about our expertise and values by visiting GuggenheimPartners.com and following us on Twitter at twitter.com/guggenheimptnrs. 1 Assets under management are as of 3.31.2017 and include consulting services for clients whose assets are valued at approximately $59bn.


Patent
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.


Patent
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.


Patent
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.

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