Devon Energy traded at $50.29 this Tuesday March 31st, decreasing $1.23 or 2.39 percent since the previous trading session. Looking back, over the last four weeks, Devon Energy lost 11.88 percent. Over the last 12 months, its price rose by 33.86 percent. Looking ahead, we forecast Devon Energy to be priced at 50.51 by the end of this quarter and at 46.10 in one year, according to Trading Economics global macro models projections and analysts expectations.
Devon Energy Corporation (Devon) is an independent energy company. The Company operates through its U.S operating segment. Its U.S operating segment is engaged exploration, development and production of oil, natural gas and natural gas liquids (NGL). The Company’s operations are focused in four core oil producing areas: the Delaware Basin, Eagle Ford, Powder River Basin and Anadarko Basin. The Company’s Delaware Basin operates approximately eight rigs that offers exploration and development opportunities from geologic reservoirs, including the oil-rich Wolfcamp, Bone Spring, Leonard, Delaware formations. Its Delaware Basin assets also include WPX. The Company's Eagle Ford is focused on developments in DeWitt County, Texas. The Powder River Basin asset is focused on oil opportunities targeting several oil objectives, including the Turner, Parkman, Teapot and Niobrara formations. The Company's Anadarko Basin is located primarily in Oklahoma’s Canadian, Kingfisher and Blaine counties