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Devon Energy Corp(DVN-N)
NYSE

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U.S. natural gas producers chase AI-driven surge in power demand to weather low prices

Devon Energy, Expand Energy, Diamondback Energy and Permian Resources have highlighted the potential for AI and data centres to drive gas demand and said they were in initial discussions with many operators
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Devon Energy (DVN) Q3 2024 Earnings Call Transcript
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Devon Energy Reports Third-Quarter 2024 Results and Declares Quarterly Dividend
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Profile

Devon Energy Corporation is an independent energy company engaged primarily in the exploration, development and production of oil and natural gas. The company's oil and gas operations are mainly concentrated in the onshore areas of North America, primarily in the United States. In June 2019, Devon completed the sale of substantially all oil and gas assets, as well as operations in Canada. In October 2020, the company completed the sale of Barnett Shale assets. In aggregate, estimated proved reserves associated with these assets were 400 MMBoe (million barrels of oil equivalent), accounting for 21% of total proved reserves.Subsequent to the sale of Devon's Canadian business, its oil and gas exploration and production activities are solely concentrated in the United States. After completion of the Barnett Shale gas assets sale, the company will concentrate on oil assets in the United States.

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