Boston, MA 09/26/2013 (wallstreetpr) – Wednesday’s trading
In Wednesday’s trading session, Devon Energy Corp (NYSE:DVN) stock dropped by 0.39%. The shares opened at a price of $59.76, climbed to an intraday high of $60.09 and headed to a close of $59.50. Approximately 2.29 million shares were traded on Wednesday and an average volume of 2.55 million shares were traded over a period of 30 days. The 52-week low of the shares was $50.81 and the 52-week high was $63.00. The company has a market capitalization of $24.16 billion.
The company
Devon Energy Corp (NYSE:DVN) was formed on 18 May 1999. It is an independent energy-company involved mainly in exploring, developing and producing oil, natural-gas and natural-gas liquids (NGLs). Most of its operations are located in different North American onshore-areas in the U.S and Canada. It also owns natural-gas pipelines, plants as well as treatment-facilities in most of its producing areas. Devon Energy Corp (NYSE:DVN) holds 14M net acres. Of these, almost 2/3rds are undeveloped. Its properties in the U.S include Gulf Coast/East Texas, Cana-Woodford Shale, Barnett Shale, Granite Wash, Permian Basin and Mississippian. Its Canadian properties include Pike, Jackfish and Lloydminster. In 2013 August 2013, Meritage Midstream Services II acquired Thunder Creek Gas Services from Devon Energy Corp (NYSE:DVN) and PVR Partners, L.P.
United States
Devon Energy Corp (NYSE:DVN)’s Barnett Shale leases are situated in Parker, Denton, Johnson, Tarrant and the Wise counties in north Texas. This is a non-conventional reservoir. It produces natural gas and NGLs. Apart from this; it has a processing-plant and a gathering-system in North Texas that are used to service these properties. As of 31 December 2012, it drilled more than 5,000 wells here and thousands or other drilling locations. Its Cana-Woodford Shale-acreage is situated mainly in Oklahoma’s Blaine, Canadian, Caddo and the Dewey counties.
