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Devon Energy

Devon is swimming in cash. Thanks to a 10% increase in production and rising oil and gas prices, profits jumped 26% last year. It's spending heavily to drill in areas such as the Barnett Shale in north Texas, the Gulf of Mexico, and offshore Brazil. But Devon also is hiking dividends and buying back shares Profile: reflected in its 65.8% stock return in the past year. Criticized in the past for its spending to find new deposits, the Oklahoma City company now wins praise for the savings it has wrung from a string of acquisitions. No wonder some consider it a takeover target.

Company Info

2004 Rank36
Market Value $22.6 BILLION
Total Return (1-yr.) 65.8%
(3-yr.) 117.3%
2004 sales $9.2 BILLION
Sales Growth(1-yr.) 25%
(3-yr.) 49.6%
Net income $2.2 BILLION
Net Income Growth (1-yr.) 26%
(3-yr.) 449.7%
Net Margin* 23.8%
Return on Equity* 15.9%
Industry ENERGY
More in S&P 500 Companies Scoreboard >
*Trailing 12 months
Company data as of 2/28/05 provided by Standard & Poor's Compustat

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Company Snapshot

Devon Energy Corporation, an independent energy company, engages primarily in the oil and gas exploration, development, and production; the acquisition of producing properties; the transportation of oil, gas, and natural gas liquids (NGLs); and the processing of natural gas. It primarily focuses on the Permian Basin within Texas and New Mexico; the Rocky Mountains area of the United States stretching from the Canadian Border into northern New Mexico; the mid-continent area of the central and southern United States; and the Gulf Coast, which includes properties located primarily in the onshore south Texas and south Louisiana areas, and offshore in the Gulf of Mexico. The company’s marketing and midstream operations include marketing of natural gas, crude oil, and NGLs; and the construction and operation of pipelines, storage, and treating facilities and gas processing plants. Devon Energy was incorporated in 1999 and is headquartered in Oklahoma City, Oklahoma.

No. of Employees


Data provided by Capital IQ
J. Larry Nichols

J. Larry Nichols, 62


Chairman of the Board, Chief Executive Officer and Chairman of Dividend Committee

CEO Bio >

Total Compensation*


Total Value of Options**


Compare CEO Compensation >

Degrees Held

Princeton University (Bachelor's Degree), University of Michigan - Ann Arbor (JD)

Board memberships

Baker Hughes Inc., Devon Energy Corp., Smedvig ASA

* Latest available fiscal year
** The sum of the net value of options exercised and held in the latest available fiscal year

Key Executives

J. Larry Nichols, John Richels, Brian J. Jennings, Stephen J. Hadden, Duke R. Ligon, Marian J. Moon, Darryl G. Smette

Board Members

J. Larry Nichols, Thomas F. Ferguson, David M. Gavrin, Michael Erwin Gellert, William J. Johnson, Michael Kanovsky, John A. Hill, John W. Nichols, J. Todd Mitchell, Milton Carroll, Robert L. Howard, Peter J. Fluor, Charles F. Mitchell, Robert A. Mosbacher

Data provided by Capital IQ
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