About the company
Devon Energy, headquartered in Oklahoma City, has established itself as one of the leading independent exploration and production companies in North America. With an extensive asset base spread across onshore North America, the company boasts exposure to some of the most significant oil and gas plays in the region. One of the key areas where Devon has a strong presence is the Delaware Basin, located in West Texas and southeastern New Mexico. The Delaware Basin is part of the larger Permian Basin, a prolific oil and gas region. Devon's operations in the Delaware Basin have been successful, contributing significantly to the company's overall production and reserves. Another notable play for Devon is the STACK play, located in Oklahoma. STACK, which stands for Sooner Trend, Anadarko (Basin), Canadian, and Kingfisher (Counties), is a liquids-rich play where Devon has a substantial acreage position. The company has strategically focused on developing this play, benefiting from its high-quality, low-cost resources. Devon Energy also holds notable assets in the Eagle Ford shale play, situated in South Texas. The Eagle Ford play has been a significant contributor to Devon's production, with its oil and natural gas liquids reserves playing a vital role. Additionally, Devon has a presence in the Powder River Basin, located in Wyoming and Montana. The Powder River Basin has emerged as one of the most promising basins for natural gas production in recent years, and Devon's investments in this area have enabled the company to capture its potential. Lastly, Devon holds assets in the Bakken play, which spans parts of North Dakota, Montana, and Canada. The Bakken play is known for its significant oil reserves, and Devon's operations in the region have contributed to its overall production growth. By the end of 2022, Devon Energy's proven reserves totaled an impressive 1.8 billion barrels of oil equivalent. This significant reserve base reflects the company's effective exploration and production strategy, as well as its focus on acquiring high-quality assets. In terms of production, Devon achieved 611 thousand barrels of oil equivalent per day (boe/d) in 2022. The production mix comprises 73% oil and natural gas liquids, emphasizing the company's focus on the value-added sectors of the energy market. The remaining 27% is natural gas production, illustrating Devon's diversified portfolio and ability to capitalize on different market conditions. Devon Energy's success can be attributed to its commitment to operational excellence, technological innovation, and a disciplined approach to asset management. The company has implemented advanced drilling and completion techniques, such as horizontal drilling and hydraulic fracturing, to unlock the potential of its extensive resource base. Furthermore, Devon has been actively managing its portfolio, divesting non-core assets to strengthen its financial position and focus on its core plays. This strategic approach allows the company to allocate capital efficiently and optimize its production and reserves. As a responsible corporate citizen, Devon Energy prioritizes environmental stewardship and sustainable practices. The company adopts robust environmental controls, implements best management practices, and strives for regulatory compliance to minimize its impact on the environment. Overall, Devon Energy's position as one of the largest independent exploration and production companies in North America is a testament to its operational expertise, diverse portfolio, and commitment to delivering value to its shareholders and stakeholders. With a strong asset base and a focus on innovation and efficiency, Devon is well-positioned to navigate the dynamic energy landscape and capitalize on future opportunities for growth.
Website: https://www.devonenergy.com
Data updated: June 2, 2026
