Devon Energy Taking on Horizontal Drilling Full Time
Posted by Turn Key Oil on October 5, 2011 · Leave a Comment
Photo Credit.
Devon Energy has been taking steps towards more and more horizontal drilling, with a focus on the technology being used to do so. They have been changing their company strategy based on the goods and services that are being used the most, or on the forefront of the markets. This is an admirable and progressive approach to business. Devon Shire agrees with this, and believes that DVN is doing something right.
Focus On Value Per Share
Devon management has a long history of wisely allocating capital between debt reduction, project development and buying back shares when the price is right.
Repositioning of the Business
In the past two years Devon has been working on a massive repositioning of its asset base.
Devon has been dumping offshore oil and gas reserves and loading up on North American resource plays. Another oil and gas company that has not gotten the memo that the shale gas and unconventional resource plays are nothing more than ponzi schemes!
Selectively Locking Up Unconventional Acreage
Devon is working the unconventional game both north and south of the border. In the States Devon has several large acreage positions in new venture plays:
- Niobrara – 300,000 acres
- Mississippian – 200,000 acres
- Utica – 410,000 acres
- Tuscaloosa – 250,000 acres
Clearly, DVN is choosing to focus its attention on unconventional oil plays. We are pretty bullish about this approach, despite the opinion of Devon Shire, but not all of our readers will agree with us either. Keep an eye on Devon Energy, if you are bullish about unconventional oil or not. They are an ever changing company, so watch closely.
Quotes taken from report by Devon Shire, Read the entire article
here.This is not an offer to buy or sell securities. Oil investment carries with it very high risks. The information contained within this site has not been nor will it be verified by Turn Key Oil and is subject to change at any time. We are not a United States Securities Dealer or Broker or United States Investment Adviser. Do your own due diligence and consult with a licensed professional before making any investment decisions. Please read our full disclaimer before making any decisions.
Like this:
Like Loading...
Filed under $100 oil, Commodity Markets, Commodity Stocks, Company Acquisitions, Company Asset Value, Company Assets, Company Cash Flow, Company Dividends, Company Earnings, Company Expansion, Company Gains, Company Growth, Company Management, Company Merge, Company News, Company Oil Production, Company Portfolio, Company Revenue, Company Sales, Company Shift, Company Split, Oil & Gas Investment, Oil Acquisitions, Oil Acreage, Oil and Gas Agreements, Oil and Gas Assets, Oil and Gas Buyouts, Oil and Gas Dividends, Oil and Gas Equities, Oil and Gas ETFs, Oil and Gas Insider Buying, oil and gas investor, Oil and Gas Market, Oil and Gas Reserves, Oil and Gas Stock Picks, Oil and Gas Take Overs, Oil and Gas Workers, Oil and the Economy, Oil Assets, Oil CEO, Oil Companies, Oil Company Management, Oil Company Sales, Oil Demand Decrease, Oil Dependence, oil discovery, Oil Dividends, oil drilling, Oil Earnings, Oil Economy, oil education, Oil Equipment Sector, Oil Equity, oil etf, Oil ETFs, Oil Exploration, Oil Exports, Oil Field Companies, Oil Field Exploitation, Oil Field Services, Oil Field Stocks, Oil Giants, Oil Imports, Oil Independence, Oil Industry Creates Jobs, Oil Industry Employment, Oil Industry Jobs, Oil Information, Oil Investing, Oil Investment Returns, oil investor, Oil Leases, Oil Market Movement, Oil Markets, Oil News, Oil Partnerships, Oil Pipeline, Oil Price Prediction, oil prices, Oil Prices Drop, Oil Prices Fall, Oil Prices Rebound, Oil Prices Soar, Oil Prices Versus Gas Prices, Oil Production, Oil Production Decrease, Oil Production Increase, Oil Profit, Oil Profits, Oil Projects, Oil Property Leases, Oil Rebound, Oil Recession, Oil Refiner Picks, Oil Refineries, Oil Refiners, Oil Refining, Oil Sales, Oil Sector, Oil Service Stocks, Oil Speculation, Oil Stock Decline, Oil Stock Price Increase, oil stocks, Oil Stocks Long Term, Shale Acquisitions, Shale Assets, Shale Boom, Shale Drillers, Shale Drilling, Shale Exploration, Shale Formations, Shale Gas Exploration, Shale Gas Reserves, Shale Oil Buyouts, Shale Oil Companies, Shale Oil Company Buyouts, Shale Oil Exploration, Shale Oil Production, Shale Plays, Shale Producers, Shale Production, Turn Key Oil, Unconventional Energy Plays, Unconventional Gas Reserves, Unconventional Natural Gas, Unconventional Natural Gas Assets, Unconventional Natural Gas Plays, Unconventional Natural Gas Production, Unconventional Oil, Unconventional Oil Assets, Unconventional Oil Companies, Unconventional Oil Investments, Unconventional Oil Plays, Unconventional Oil Production, Unconventional Oil Questions, Unconventional Oil Reserves · Tagged with DVN
