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Devon Energy Corporation (DVN:NYSE)

The Devon Energy Corporation (DVN) is an independent energy company, engaged in the sale of oil, gas and natural gas liquids products and the transportation, storage, processing and treating of hydrocarbons. It was incorporated in 1971 and is headquartered in Oklahoma City, Oklahoma. Its products include ethane, propane, butane and natural gasoline. The company’s midstream function is responsible for the construction and operation of pipelines, storage and treating facilities and compression and gas processing plants.

Devon is a Fortune 500 company and is included in the S&P 500 Index. DVN’s operations are focused in the US, primarily in 5 states i.e. the Delaware Basin, Eagle Ford, Anadarko Basin, Powder River Basin and Williston Basin. DVN operates approximately 5,134 gross wells and as at 2020, it produced on a daily average 300,000 barrels of oil, more than 125,000 barrels of natural gas liquids and 920 million cubic feet of natural gas.