News for Devon Energy
Feb 10 · 3:26:00 PM · Source: Reuters
Danish shipping and oil group A.P. Moller-Maersk has completed an acquisition of a 25 percent stake in the Jack oilfield in the Gulf of Mexico from Devon Energy for $300 million. Maersk's further investment in field seen rising to $1 billion.
The purchase is part of a push by Maersk's oil arm to diversify its production portfolio beyond its North Sea home base. "Most of the investment will lead up to the production start, which is planned for 2014," Maersk Oil Chief Executive Jakob Thomasen told Reuters.
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by Michael Oliveto
Dec 31 · 3:49:00 PM · Source: emii.com
Shipping and oil group, AP Moller-Maersk, is purchasing Devon Energy’s stakes in three of its oilfields in the Gulf of Mexico for $1.3 billion.
The Copenhagen-based company will get a 50% stake in the Cascade field and a 25% interest in each of the Jack and St Malo fields.
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by Michael Oliveto
Nov 4 · 3:59:00 PM · Source: Company News Release
Devon Energy reported Q3 earnings of $1.13 per share on net income of $499 million versus $5.93 per share on net income of $2.6 billion in the year ago period.
"Year to date, Devon increased oil and gas production eight percent compared with 2008," commented President John Richels. "The performance of the company's oil and gas properties has continued to exceed our expectations throughout 2009."
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by Michael Oliveto
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