Devon Energy

Independent oil and natural gas producer.

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20 North Broadway
Oklahoma City, OK 73102
Employees: 5,200
CEO: John Richels
Stock Symbol: DVN


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Devon Energy Corporation is a leading independent oil and gas producer and one of the largest independent processors of natural gas and natural gas liquids in North America.

The company's portfolio of oil and gas properties provides stable, environmentally responsible production and a platform for future growth. The company's production mix is about two-thirds natural gas and one-third oil and natural gas liquids, such as propane, butane and ethane. Devon produces about 2.5 billion cubic feet of natural gas each day – more than 3 percent of all the gas consumed in North America.

In 2011, Devon reported revenues of $11.45 billion and net earnings of $4.7 billion.

At December 31, 2011, Devon’s estimated proved reserves reached a record 3 billion oil-equivalent barrels (Boe). During 2011, the company added 386 million Boe through successful drilling (extensions, discoveries, and revisions other than price). Associated drill-bit capital invested during the year totaled $6.9 billion, including $1.5 billion spent on exploration and acreage acquisitions.

“Devon’s liquids-focused drilling program delivered excellent results in 2011. Our total drill-bit reserve additions comfortably outpaced production, including a liquids reserve replacement rate exceeding 230 percent,” said Dave Hager, executive vice president, exploration and production. “These reserves were added at attractive finding and development costs while investing $1.5 billion on acreage acquisitions and exploration activity focused on enhancing growth in future years.”

Devon was founded in 1971 by John Nichols and his son Larry. The company went public in 1988.


- Medical, Dental and Vision Insurance
- Basic Life & Accidental Death and Dismemberment Insurance
- Voluntary Life & Accidental Death and Dismemberment Insurance
- Business Travel Insurance
- Vacation/Sick Days
- Short-Term & Long-Term Disability Insurance
- Flexible Spending Account
- Employee Assistance Program
- Incentive Savings (401(k)) Plan
- Pension Plan
- Tuition Reimbursement Program

Updated July 15, 2012