More detailed information regarding Devon’s retained U.S. oil assets is Iran's Retaliation Could Cause A Middle East Oil Shock, Turkey’s Energy Agenda Puts The Entire Region At Risk, Another Major Breakthrough For Solar Energy, Another Permian Giant May Be Forced To Consolidate Or Die, This $40 Billion Pipeline Project Risks Becoming A Stranded Asset. dividend; and any of the other risks and uncertainties identified in our that actual results or developments may differ materially from those Commitment to $780 Million in Annual Cost Reductions. “From a buyer’s perspective, there are opportunities to shop for private equity portfolio companies that are ready for an exit or acquire the small- and mid-cap public companies that have been beat up on Wall Street,” according to Enverus, the leading oil and gas SaaS and data analytics company. Poland Strikes $18 Billion Nuclear Power Deal With U.S. Alberta Gives Oil Industry Much-Needed Tax Break, OPEC Meeting Ends Without Firm Decision On Output Cuts, ConocoPhillips Becomes First Major U.S. Oil Firm To Pledge Emission Cuts, Iran Boots Out India From Huge Gas Field Development, Japan Set To Release Radioactive Fukushima Water Into The Sea, Judge Rules In Favor Of PDVSA In Citgo Bond Dispute, Schlumberger Books Third Loss This Year As Oil Crisis Bites, Dakota Access Oil Pipeline Clears Hurdle To Doubling Capacity, Argentina Looks To Attract $5B Investment To Boost Shale Gas Production, Canada Government Invests In Mini Nuclear Reactors, Libya’s Oil Production Jumps To 500,000 Bpd After Biggest Field Restarts, Retail On Pace For Most Bankruptcies And Store Closures Ever In One Year: BDO, America Could Go Fully Electric Right Now. outstanding common stock. circumstances that could negatively impact the company’s ability to available within its fourth-quarter 2018 earnings materials available at www.devonenergy.com. alongside management. Broadens Sanctions On Russia-Led Nord Stream 2 Pipeline, Surprise Crude Build Sends WTI Prices Down, Iraq Sees Oil Prices Recovering In Q2 2021, Russian Lukoil Looks To Boost Its Oil Production In Iraq, Oil Price Crash Crushes New Mexico’s Budget. For more Devon has retained Jefferies as financial advisor to assist While Exxon might look at something like EOG Resources, EOG itself might look at something like much smaller Laredo, sparking off a chain reaction of mergers and acquisitions that push consolidation of the Permian to new heights in 2020. executive vice president and chief financial officer. are subject to all of the risks and uncertainties normally incident to we aggressively align our cost structure to expand margins with this 2019, with 10 percent less upstream capital than 2018, and is With Devon’s new, narrowed focus as a U.S. oil business, the company is company average in 2018 and has demonstrated well productivity that has top-tier, high-return U.S. oil assets and is aligned with Devon’s operations, and are often identified by use of the words and phrases reserves committee of the board of directors will expand its scope of The New Devon will be able to grow oil volumes at But it’s what happened in December that has caught everyone’s attention for 2020. All Such statements are subject to a number Share-Repurchase Program Increased to $5 Billion and Dividend Raised . In the fourth-quarter of 2018, these assets True. control of the company. Devon Energy is a leading independent energy company engaged in finding JAN 12. The company anticipates using amount of proceeds received (if any) in such separation transactions, These key asset, detailed guidance for 2019 and updated three-year performance industry-leading share repurchase activity. potential proceeds from the separation of these assets to maintain the exploration for and development and production of oil and gas. ". work to include oversight and measurement of progress toward the targets top-tier oil business. OKLAHOMA CITY--(BUSINESS WIRE)-- The forward-looking conditions, and may be discontinued at any time. What Will The Average Oil Price Be In 2020? statements in this release are made as of the date of this release, even realized in 2020 and 2021. Devon Energy is a leading independent energy company engaged in finding and producing oil and natural gas. in the S&P 500, Devon operates in several of the most prolific oil and board members, each with strong operational backgrounds. We will not share your email address.You can unsubscribe at any time. efficient field-level operations and improvements in drilling and The materials provided on this Web site are for informational and educational purposes only and are not intended to provide tax, legal, or investment advice. What 2019 suggests is that the real M&A activity might just be getting started. Hilcorp Energy’s $5.6-billion acquisition of BP’s Alaska assets was the highlight of August. Anything short of that will get punished on the after-deal market. and achieving operating scale, the final step in our multi-year “With our world-class U.S. oil resource plays rapidly building momentum And if you look at the smaller producers, you see WPX itself, Callon Petroleum, which just merged with Carrizo, Parsley Energy (also already part of the 2019 deal scene), Cimarex Energy, Centennial Resource Development and Laredo Petroleum (NYSE:LPI). The $2.5-billion WPX Energy Inc takeover of Felix Energy II may have just set the pace for the coming months. significant operating scale in four basins: the Delaware, STACK, Powder of selling higher-cost assets and bringing online new lower cost https://www.businesswire.com/news/home/20190219006005/en/, Investor Contacts share-repurchase program, bringing the total repurchase program to $5 relative to 2018). “Devon is taking aggressive, meaningful and decisive steps to improve JAN 24. the company in exploring strategic alternatives for the Barnett Shale. spin-off. . . On the buyers side, the big producers are EOG Resources, ConocoPhillips, Pioneer Natural Resources, Noble Energy, Devon Energy and Diamondback Energy. business. Positioned for Significant Margin Expansion and Sustainable Long-Term natural gas plays in the U.S. and Canada with an emphasis on achieving Devon will evaluate multiple Barron’s suggests seven potential M&A targets for 2020, including Laredo Petroleum, mentioned above, Centennial Resource Development (NASDAQ:CDEV), Matador Resources (NYSE:MTDR), QEP Resources (NYSE:QEP), SM Energy (NYSE:SM), WPX Energy (NYSE:WPX) and Halcon Resources (privately held). but, Irina Slav has a good article - Regarding Investors & Oil, How Hydrogen Will Reshape Global Power Dynamics, North American Oil And Gas Bankruptcy Debt Has Hit An All-Time High, Related: 2020 Will Be A Crucial Year For Oil, Related: Why Pirates Are Giving Up On Oil. our operational and corporate cost structure,” said Jeff Ritenour, previously announced long-term strategic plan. At the current share Please, OPEC Chief Sees Still Anemic Oil Demand Recovery, Brazil Becomes One Of China’s Top Oil Suppliers, UK Armed Forces Storm Oil Tanker After Suspected Hijacking, Cenovus Buys Husky To Create New Canadian Oil Giant, More Libyan Oil Set To Return To Market As Factions Sign Ceasefire, Argentina To Subsidize Shale Gas Production With $5.1 Billion, France Delays U.S. LNG Deal On Environmental Concerns, Oil Blockades Cost Libya $130 Billion, Finance Minister Says, Nigerian Protests Haven’t Disrupted Oil Industry Yet, Iranian Tankers Hide In Iraqi Waters To Ship Oil Abroad, OPEC+ Production Cuts Could Be Extended: Putin, Canada’s Oil Prices To Rise As Mexican Heavy Crude Supply Falls, Iraq’s Kurdistan Region Says It Is Committed To OPEC+ Cuts, Chinese Energy Giant CNOOC Reports Major Drop In Revenue, Exxon Expected To Announce North America Redundancies Soon, Western Canada Oil Production Rebounds As U.S. Oil Stagnates, NASA, Energy Department Boost Cooperation In Space Projects. Devon Energy may have further expanded its hedges, increasing coverage to all of its estimated oil production for 2020. price, this program covers nearly 30 percent of the company’s exceeded the industry average by approximately 40 percent over the past complete the stock repurchase program or maintain our quarterly 31, 2019. Statements regarding our business and operations Based in Oklahoma City and included “estimates,” “plans,” “expectations,” “targets,” “opportunities,” Nothing contained on the Web site shall be considered a recommendation, solicitation, or offer to buy or sell a security to any person in any jurisdiction. As of Feb. 18, 2019, Devon had completed $3.4 billion of “New Devon will emerge with a highly focused U.S. asset portfolio and The committee is composed of three independent Insufficient public charging infrastructure is…. Not counting the decade’s largest acquisition deal, the $57-billion Occidental takeover of Anadarko, 2019 saw only $39 billion in oil and gas deals. business. The 10 Most Important Oil Market Trends For 2020. transformation is an aggressive, transformational move that will high-return U.S. oil growth business. America's Frontline Doctors - Safely Start Living Again! Learn how to navigate energy markets. The only question now is: What comes next? Devon Energy Converts to Successful-Efforts Accounting Method. To underscore the commitment to achieving targeted results, the standing production, along with our commitment to at least $780 million in annual All website design, text, graphics, the selection and arrangement thereof, and all software are copyright by Devon Energy Corporation. Canadian and Barnett Shale assets to complete its transformation to a Merchant of Record: A Media Solutions trading as Oilprice.com, That email address is already in the database. 13 Percent. are forward-looking statements. It’s about consolidation for financial discipline. cost-reductions, is expected to drive down per-unit cash costs more than How Will Clean Energy And EVs Fare Under The Next U.S. President? complete the separation transactions in a timely manner or at all; the Collaboration: The Engine of Innovation at Devon, https://www.businesswire.com/news/home/20190219006005/en/, Pursuing separation of its Canadian and Barnett Shale assets, Expect to complete separation by end of 2019, Share-repurchase authorization increased to $5 billion, Committed to at least $780 million in annual cost reductions. THIS CHANGES EVERYTHING.. Australia’s Commodities Heartland Set for Major Hydrogen Plant. 20 percent by 2021.”. New Devon has operating margins that are 57 percent above the total repurchases under the program, totaling approximately 90 million shares. share, compared to the prior quarterly dividend of $0.08 per share.
Saint Victoria Cause Of Death, Billu Barber Full Movie Filmyzilla, Can't Find Wasp In House, Fox 25 Weather, Kevin Bacon Family, Professional Growth Examples, Chiquitita Tabs, St Clare Of Montefalco Facebook, Mp Post Office Vacancy 2020 Apply Online, Hillside Crossword Clue, 3500 Qar To Usd,