Point of View: Devon CEO: High crude prices likely to linger

The "simplistic assumption" that crude prices eventually will fall back "to where they used to be," around $25/bbl, is likely "invalid" in today's market situation, said J. Larry Nichols, chairman and CEO of Devon Energy Corp., Oklahoma City."The [price] model that I think a lot of people have, which is certainly a valid one if you look [only] at the last 5-10 years, is that we're going to have very moderate prices that on occasion will spike up for a very brief period of time when we have a difficulty like the Iraqi invasion of Kuwait, and then after a few months will come back down to a more reasonable level," he said. However, Nichols said, "Now so much of the surplus [world pr...

Why Register?

Non-subscribers can only view whitepapers by providing name, home and email address, phone number and other information and comment on/rate articles.

Why Subscribe?

Oil & Gas Journal subscribers with login credentials can access these premium features of OGJ Online:

  • Current Issue – an html version of the current week's issue of Oil & Gas Journal.
  • Past Issues – An Electronic OGJ Archive. A keyword-searchable archive of all issues of Oil & Gas Journal dating back to 1990; also searchable by issue date.
  • Market Journal – a weekly round-up of the oil and gas markets, with observations from leading analysts.
  • Editor's Perspective – a short article of insight and opinion by the Editor of Oil & Gas Journal.
  • OGJ Industry Stats – quick access to current industry statistics from Oil & Gas Journal.
  • OGJ Survey Downloads - quick access to exclusive reports from Oil & Gas Journal.


Subscriber Help or Subscribe

Oil & Gas Journal Subscribers: Have your subscription number (from the mailing label on the cover of your Oil & Gas Journal) and e-mail address ready to set up your online account through Customer Service Assistant.

If you're not an Oil & Gas Journal subscriber, start a subscription and gain access to the subscriber areas of OGJ Online now.

Stay Connected