Devon Energy Corporation, Company Intelligence Report

Devon Energy Corporation, Company Intelligence Report

Summary

Devon Energy Corporation (Devon) is one of the largest independent oil and gas companies in North America. The company is primarily engaged in the exploration, development and production of crude oil and natural gas resources in the US and Canada. Its exploration and production (E&P) activities in the US are located in the Mid-Continent, Permian Basin, Gulf Coast and the Rocky Mountains regions. Devon’s Canadian Operations are located in the Horn River Basin, Deep Basin, Foothills, Central, Northwest and Lloydminster areas and the thermal oil sands projects in Alberta. Earlier, the company was also involved in offshore operations in the Gulf of Mexico and other international markets such as China, Brazil, Azerbaijan and other international locations. However, Devon announced its plan to restructure operations in November, 2009 by concentrating its E&P activities on North American onshore fields and divesting its offshore international operations. The company sold off its non-core offshore operations during Q4 2009–Q2 2011; since then, all its E&P activities are located onshore in North America.

Currently, the Barnett shale and Cana-Woodford shale in the Mid-Continent region, various conventional and unconventional formations in the Permian basin and the Canadian thermal oil sands projects such as the Jackfish and Pike Oil Sands projects are the company’s major drivers of production. Moreover, Devon increased its exposure to several oil-rich plays during 2010–2011, of which the major plays include the Mississippian oil play, Rockies Oil plays, Ohioan Utica shale, Tuscaloosa play and the Michigan basin. As of now, these plays are in the initial exploration and evaluation phase. The company also holds several legacy exploratory assets in North America. Its new venture plays and exploratory assets provide the company with access to a substantial resource base, which when developed is expected to bring significant upside to Devon’s reserves and production in the long run.

Scope

• Key Highlights: This section provides detailed analysis on the company’s overall oil and gas value chain, new projects, growth opportunities, new ventures, assets performance, hedging strategies, Capex funding, geographical results of oil and gas operations.
• Goals and Strategies: This section provides the upcoming goals and strategies of the company. The section mainly goals and strategies followed by the company in order to meet its upcoming goals.
• SWOT: The report’s SWOT section provides the internal strength, weakness, opportunities and threats of company to reflect its strategic positions in the market.
• Production and Development Overview: This section highlights the company’s crude oil and natural gas production forecast from its legacy and upcoming assets by region and commodity mix for next five years. The report also covers the detailed information and analysis on the company’s producing and development assets.
• Exploration: This section includes detailed explanation and analysis on the company’s exploration assets resulted due to new discoveries, new drilling and other activities.
• M&A trends: This section mainly provides information and analysis on the company’s recent assets transactions, joint ventures, acquisition, and divestment activities during the last one year. This section highlights the company’s status as a buyer or seller during the analyzed period.
• Financial Forecast and Valuation: This section highlights the detailed financial statement forecast for next five years. With the financial statement forecast, this section also provides intrinsic value of the company by using Net Asset Valuation method.
• Peer Group Analysis: This section compares the company’s performance with its peer group on the basis of share prices, financial ratios, operational and financial parameters and other related parameters.
• Financial and Operational Metrics: This section covers the company’s historical performance on several financial and operational parameters such as Production and Reserves, Reserves Replacement, Costs Incurred, Acreage, Wells, F&D Costs, Oil and Gas Revenue and Expenses etc.

Reasons to buy

The report will enhance the decision-making capability in a more rapid and time sensitive manner. It will allow you to -

• Provide detailed analysis to those who are interested in knowing the companies’ existing and future business strategies.
• Provide in-depth analysis on the companies E&P profiles along with the exploration and M&A updates.
• Provide valuable insights to those who are tracking oil and gas markets and wants to know the intrinsic value of the companies.
• Use the analysis for strategy and planning, M&A identifications, and competitor analysis.