Devon Energy Corporation
- Industry
- Integrated Oil & Gas
- Exchange
- US
- Country
- USA
- IPO date
- Mar 17, 1992
- Employees
- 2,200
- Website
- www.devonenergy.com
Composite valuation range · conservative $35–$42 / fair $43–$55 / optimistic $56–$70. At $43.16, Within the fair intrinsic-value range.
At publication $45.14 (May 27, 2026)
Data from EODHD, shown in the reporting currency; for reference only, not investment advice.
Devon Energy Corporation, an independent energy company, engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. The company operates in Delaware Basin located in southeast New Mexico and west Texas, Eagle Ford located in North America, Anadarko Basin located in western Oklahoma, Williston Basin located in North Dakota, and Powder River Basin located in Wyoming. Devon Energy Corporation was founded in 1971 and is headquartered in Houston, Texas.
History
Devon Energy Corporation was founded in 1971 and is headquartered in Houston, Texas. It carried out its IPO on March 17, 1992. In 2024 it acquired Grayson Mill, substantially increasing Rockies production, and in 2025 it purchased a minority stake in Cotton Draw Midstream for $260 million. On May 7, 2026 it completed an all-stock merger with Coterra, with legacy Devon shareholders holding about 54% of the combined company.
Industry position
Devon Energy is an independent U.S. onshore oil and gas exploration and production company in the Energy sector, producing crude oil, natural gas, and natural gas liquids and operating in the Delaware Basin (southeast New Mexico and west Texas), Eagle Ford, Anadarko Basin (western Oklahoma), Williston Basin (North Dakota), and Powder River Basin (Wyoming). Legacy Devon averaged 840,000 BOE/d in 2025 (Delaware 59%, Rockies 23%, Anadarko 10%, Eagle Ford 8%); the combined company has estimated 2026 production above 1.6 million BOE/d, 746,000 net Delaware acres, and over 10 years of inventory. Its customers are refiners, midstream operators, and commodity buyers, and named peers include EOG, Diamondback, OXY, APA, and COP.