Dallas, Texas 04/02/2014 (FINANCIALSTRENDS) – Devon Energy Corp(NYSE:DVN) is an oil and gas company who wants to save its position on the top and invested 1.1 billion in the Eagle Ford Shale in 2014. The Devon Energy Corp(NYSE:DVN) has succeeded in getting the Assets of Eagle Ford and had accounted for that which is a while before from the Geo southern Energy and had declared by them. For having access in the section of land of area of around 82k in two areas in Texas which are Lavaca and Dewitt, it has been accounted. The President and the Chief Executive Officer John Richels expressed his excitement and very delighted with the deal and agreement over the matter by expressing that his organization is continuously moving towards the development and improvement.
They are ready to achieve a dynamite success in handling of about 70 to 80k barrel oil on daily basis. It looks like a long term and very low risk which is all a company wanted.
Thomas L. Mitchell would be the executive vice President and the Chief Financial Officer of Devon Energy Corp(NYSE:DVN). He has a great experience of 30 years in oil industry so it can be a double sided gain. John Richels also shows his excitement on joining of the Mitchell as the CFO of the company; he said that the future of the company will be safe in such an experienced hand.
Strategy of Devon Energy Corp’s Energy
Devon Energy Corp(NYSE:DVN) has been dealing with a technique to adapt its universal holdings and utilize the returns to focus all the more on North American stakes. A month ago Devon Energy Corp(NYSE:DVN) chose to offer the larger part of its Canadian accepted advantages for Canadian Natural Resources Limited for US $2.8 billion. Devon Energy Corp(NYSE:DVN) plans to utilize the returns to repay the obligations acquired for its Eagle Ford shale extension.