Devon Energy - M&A Summary and Business Overview

Oil/gas ExplorationCompany

Devon Energy M&A Summary

Devon Energy has acquired 12 companies, including 3 in the last 5 years. A total of 1 acquisition came from private equity firms. It has also divested 11 assets.

Devon Energy’s largest acquisition to date was in 2003, when it acquired Ocean Energy for $5.3B. It’s largest disclosed sale occurred in 2008, when it sold Devon Energy - Equatorial Guinea Assets to GEPetrol for $2.2B. Devon Energy has acquired in 4 different US states, and 2 countries. The Company’s most targeted sectors include oil/gas exploration (92%) and energy services and equipment (9%).

Devon Energy Business Overview

Where is Devon Energy headquartered?

Devon Energy is headquartered in Oklahoma City, Oklahoma.

What is Devon Energy’s revenue?

Devon Energy disclosed revenue of 19,169M USD for 2022 and 12,206M USD for 2021.

How many employees does Devon Energy have?

Devon Energy has 1,800 employees.

What sector is Devon Energy in?

Devon Energy is an oil/gas exploration company.

When was Devon Energy founded?

Devon Energy was founded in 1971.

M&A Summary

  • M&A Total Activity23
    • M&A Buy Activity12
    • M&A Sell Activity11
  • Total Sectors Invested 2
  • Total Countries Invested 2
  • M&A Buy/Sell Connections 13
  • M&A Advisors 3

Devon Energy

Devon Energy Corp.

333 West Sheridan Avenue,
Oklahoma City, Oklahoma 73102
United States,
(405) 235-3611
www.devonenergy.com

Devon Energy a U.S. based independent natural gas and oil producers. Based in Oklahoma City, Oklahoma, the company's operations are focused on North American onshore exploration and production. Devon Energy was founded in 1971 and is based in Oklahoma City, Oklahoma.


M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (0.6/yr) # 9 1 - 2 - - 12
vol $22.6B $2.7B $25.2B
Sell (0.0/yr) # 11 - - - - - 11
vol $4.9B $4.9B
  23

Most Recent M&A

Company Date Value Type
Validus Energy Services LLC 2022-08-09 1.8B USD Add-on Acquisition
Denver, Colorado · www.validus-energy.com
RimRock Oil & Gas LP 2022-07-08 865M USD Add-on Acquisition
Greenwood Village, Colorado · www.rimrockoil.com
WPX Energy, Inc. 2020-09-28 - Merger
Tulsa, Oklahoma · www.wpxenergy.com
Devon Energy Corp. - Delaware Basin Properties 2018-08-14 215M USD Divestiture
Oklahoma City, Oklahoma
Devon Energy - 28,000 Acres Midland Basin 2016-06-16 435M USD Divestiture
Oklahoma City, Oklahoma
Devon Energy - Victoria Express Pipeline Business 2015-03-23 171M USD Divestiture
Oklahoma City, Oklahoma
Devon - 900 Gas Wells 2013-12-02 70M USD Divestiture
, Montana
Eagle Ford Shale 2013-11-20 - Add-on Acquisition
, Texas
Thunder Creek Gas Services LLC 2013-08-19 - Divestiture
Gillette, Wyoming
Block 15/34 2010-06-18 515M USD Stake Sale
, China
View All >>

Business Unit M&A

Company Acquired Add-On/Sale Date #
Devon Canada Corp.    - Devon Canada - Canadian Conventional Assets 2014-04-02 1
Calgary, Alberta , Canada

M&A by Sector

Sector Buy # Value Sell # Value
Oil/Gas Exploration 11 (92%) 23.0B (91%) 10 (91%) 4.7B (96%)
Energy Services and Equipment 1 (8%) 2.2B (9%) 1 (9%) 205M (4%)
Total 12 $25.2B 11 $4.9B

By Geo

State/Country Buy Value Sell Value
United States 10 19.9B 8 1.7B
  Texas 6 15.0B - -
  Oklahoma 1 - 3 821M
  Colorado 2 2.7B - -
  Connecticut 1 2.2B - -
  Wyoming - - 1 -
  Montana - - 1 70M
Canada 2 5.4B - -
  Alberta 2 5.4B - -
China - - 2 1.0B
South Africa - - 1 2.2B
Domestic 10 (83%) 19.9B (79%) 8 (73%) 1.7B (34%)
Cross-border 2 (17%) 5.4B (21%) 3 (27%) 3.2B (66%)
Total 12 $25.2B 11 $4.9B

Top M&A Advisors

Financial Deals
J.P. Morgan Securities
1
UBS Investment Bank
1
Legal Deals
Skadden, Arps, Slate, Meagher & Flom
1

Deal Values

buy # Total
> $1B 7 $23.5B
$100M to $1B 3 $1.7B
TOTAL $25.2B
Largest Ocean Energy, Inc.
$5.3B (2003-02-24)
sell # Total
> $1B 1 $2.2B
$100M to $1B 8 $2.6B
< $100M 1 $70M
TOTAL $4.9B
Largest Devon Energy Corp. - Equatorial Guinea Assets
$2.2B (2008-04-08)

M&A Connections

Deals
Acquired from
Investor(s)
8%
1 (8%)
Divested to
Strategic(s)
100%
11 (100%)

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