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  1. Default Re: Devon Business Practices

    This is a major development for the future of Devon’s development of its STACK position. This JV seemed dead a few months ago and was part of the reason they dropped all their rigs in Oklahoma. I’m surprised it came back from the dead. Certainly doesn’t change the economics of the play or commodity prices but is definitely good news for their Oklahoma operations.

    https://www.globenewswire.com/news-r...K-Acreage.html

  2. #352

    Default Re: Devon Business Practices

    Iíve heard it adds a rig in 2020, which is way better than 0 rigs.

  3. #353

    Default Re: Devon Business Practices

    Any comments on the sale of their Barnett assets?

    Sold are the company's assets in Barnett Shale (Canada) to Banpu Kalnin Ventures for $770M. Closing is expected in Q2 of next year. The sale completes Devon's (NYSEVN) transformation to a solely U.S.-based oil exploration company.

    Alongside, Devon announces a new $1B buyback program, bringing total repurchase authorization to $6B. To date under the program, Devon has bought back nearly 30% of its float for $4.8B.

    https://seekingalpha.com/news/352704...-share-buyback

  4. #354

    Default Re: Devon Business Practices

    Quote Originally Posted by OkiePoke View Post
    Any comments on the sale of their Barnett assets?

    Sold are the company's assets in Barnett Shale (Fort Worth*) to Banpu Kalnin Ventures for $770M. Closing is expected in Q2 of next year. The sale completes Devon's (NYSEVN) transformation to a solely U.S.-based oil exploration company.

    Alongside, Devon announces a new $1B buyback program, bringing total repurchase authorization to $6B. To date under the program, Devon has bought back nearly 30% of its float for $4.8B.

    https://seekingalpha.com/news/352704...-share-buyback
    They're probably done divesting assets for now. Which is good, they can keep focusing on growth. The job losses should stop and maybe even a little growth. (and by little I mean like 10 a year) I've heard the Barnett business unit was already laid off/transferred into other pieces of the company.

    Their balance sheet is absurdly strong. Buybacks didn't really work......like at at. They've spent $5 billion and the company is only worth 9.3 billion. I'd have a hard time believing had they just left that cash on the balance sheet, they wouldn't be worth more. Hindsight is always 20/20 though.

  5. #355

    Default Re: Devon Business Practices

    Quote Originally Posted by gopokes88 View Post
    They're probably done divesting assets for now. Which is good, they can keep focusing on growth. The job losses should stop and maybe even a little growth. (and by little I mean like 10 a year) I've heard the Barnett business unit was already laid off/transferred into other pieces of the company.

    Their balance sheet is absurdly strong. Buybacks didn't really work......like at at. They've spent $5 billion and the company is only worth 9.3 billion. I'd have a hard time believing had they just left that cash on the balance sheet, they wouldn't be worth more. Hindsight is always 20/20 though.
    Am I correct in thinking Devon and Continental are well positioned to ride out any downturn?

  6. Default Re: Devon Business Practices

    Quote Originally Posted by Dob Hooligan View Post
    Am I correct in thinking Devon and Continental are well positioned to ride out any downturn?
    Continental - Yes, Devon - Probably but it definitely depends on how long it lasts and how depressed prices become.

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