Devon Energy CEO Visits TPH

Casey ColelloNews 2015

Although his tenure with CEO title is still fresh, Dave Hager has been integral in refocusing DVN to onshore North America and transforming the asset base from gas-focused to a more balanced hydrocarbon mix. What has become clear over the past few years is that DVN won’t sit idly by while the fast-moving E&P industry evolves around it. To that end, he described the processes behind the company’s portfolio management program that has led to exiting the conventional Canadian gas business, selling off non-core U.S. assets, and building a footprint in the sweet spot of the Eagle Ford shale play via the GeoSouthern acquisition. The primary focus for the company from here is maximizing value in the existing portfolio and managing the production base while spending within total cash inflows. Key components of this plan include investing in low-cost assets (i.e. Delaware, Eagle Ford) and leaning on the EnLink midstream business for liquidity as needed.

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Michael Rowe, Howard Thill, Dave Hager, Mark Meyer