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Point of View - Devon Energy puts early focus on long-term strategy
09/22/2003
Devon Energy Corp., Oklahoma City, has grown through a series of mergers to become the largest US independent oil and natural gas company, with 650,000 boe/d of oil and gas production and an enterprise value of $20 billion.Its combinations included Anderson Exporation Ltd. of Canada, Mitchell Energy & Development Corp. of Houston, and, most recently, a $5.3 billion stock swap with Ocean Energy Inc., Houston."It's what we planned," said J. Larry Nichols, chairman and CEO of the company that he cofounded with his father, John W. Nichols, in 1971. "We started this company with my father, myself, an accountant, and a couple of clerical staff," Nichols recalled. "When we started, he had al...
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