The price of Devon shares have jumped up 10.27 dollars as of now! It has been awhile since I've seriously taken a look at energy stocks, but this was a stock that did not move(volatile) like some other energy stocks. i.e. Chesapeake stocks

"At 15 billion barrels, it would boost the nation's current reserves of 29.3 billion barrels by 50%, the report said.
"Chevron owns half of the well, while Devon Energy and and Statoil each own 25%"


Too bad this wasn't announced during the summer driving season. Perhaps it was held off on purpose...:icon_evil
The suspicious side of me thinks so.


http://www.marketwatch.com/news/story/Story.aspx?guid=%7B5307F65D%2D5851%2D4529%2D951E%2 D06DFD545910C%7D&siteid=

It's a real shame that I slept in today.

That's amazing. I don't have time to pay attention to the stock market, so I let my mutual fund do that. For a good energy-based Mutual Fund, check out T Rowe Price's "New Era" fund. I'm not guaranteeing that it'll do as well in the future, but I recently made the decision to go "all in" with my meager portfolio. The recent history of this fund has been extremely impressive (posting 35%ish gains over the past year or so).

Congrats to Devon though. Hopefully they don't move to Houston.

That may be great news for gas...But it likely moved Devon up even higher on the merger radar :surrender

That may be great news for gas...But it likely moved Devon up even higher on the merger radar :surrender

Most definitely.
Anyone have a stake in this? I could have taken on a day trade if I was at my desk today. Sold DVN shares and Chesapeake awhile back and never really looked into it again.
I stayed out once it reached the highs because of the hysteria around energy.
It's too much for my body and soul if ya know what i mean...hehe Trying to keep it simple.

That may be great news for gas...But it likely moved Devon up even higher on the merger radar :surrender

That would sort of contradict the old "buy low, sell high" mantra.

Besides, isn't Devon's controlling interest held by one individual? I seem to recall that. If that's the case, then it seems to be less a candidate for takeover.

Devon has a history of acquiring and less of being acquired. The years I was at devon several things were always pretty well a given about Mr. Nichols.

1. He isn't interested in moving out of OKC. As a matter of fact we closed our Woodland Hills office, and moved the folks there to Downtown Hou while I was there, and it was common knowledge that OKC was not a "Satellite" office or would ever become one. (that really didn't sit well to a lotta the Hou folks)

2. Devon was interested in being Devon, and and other acquisition that they sought after was in the interest of the Devon Brand. I really believe the execs there, especially Mr. Nichols have a strong desire to expand the Devon Brand.

Now once Mr. Nichols is no longer the controlling interest who knows what'll happen. :)

Oh OK...Guess there is no way Devon will ever be acquired :stars:

Sure the same was said about the other 50 or so independent oil co's bought up over the past 5 years...Even more dicey if it all comes down to one guy's decision..It might just take his wife wanting to move somewhere else that sways him to sell :tiphat:

Not trying to be pessimistic, but the big boys are likely watching Devon like a hawk and they have the money to blow