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Business Summary:
Devon Energy Corporation primarily engages in the exploration, development, and production of oil and gas. It also acquires producing properties; transports oil, gas, and natural gas liquids (NGLs); and processes natural gas. The company operates in Permian Basin, the Mid-Continent, the Rocky Mountains, and onshore and offshore Gulf Coast, the United States; western Canadian Sedimentary Basin in Alberta and British Columbia; and in Azerbaijan, China, and Egypt, as well as in west Africa. In addition, Devon markets natural gas, crude oil, and NGLs; and constructs and operates pipelines, storage and treating facilities, and gas processing plants. As of December 31, 2004, the company's estimated proved reserves were 2,077 million barrel of oil equivalent, of which 60% were natural gas reserves, and 40% were oil and NGL reserves. It sells its gas production to various customers, including pipelines, utilities, gas marketing firms, industrial users, and local distribution companies. Devon was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.