Fervo announced its latest round of funding this week to the tune of $244 million. The round was led by Devon Energy, a company that’s previously backed the startup.
Devon Energy invests in Fervo Energy geothermal technology
US producer Devon Energy plans to stay ‘oily’ as it focuses on Delaware Basin
US-based energy company Devon Energy intends to keep to its liquids-rich basins and remain as “oily” a producer as possible due to crude’s ability to drive superior margins compared with natural gas, CEO Rick Muncrief said Feb. 28.
Devon Energy Reports Fourth-Quarter and Full-Year 2023 Results
Looking ahead to 2024, we have designed a plan to deliver a step-change improvement in capital efficiency. By allocating additional capital to the core of the Delaware Basin and high-grading activity across our diversified portfolio, we expect to efficiently sustain our oil production for roughly 10 percent less capital.
Devon interested in acquiring Canadian-based Enerplus
Reports suggest Devon is in talks with Canadian-based Enerplus and made an acquisition offer. Devon declined comment. Enerplus did not immediately respond to a request for a comment reported Reuters.
Devon Energy funds 80 scholarships with Folds of Honor
Devon Energy announced a new partnership with Folds of Honor, a nonprofit dedicated to providing life-changing scholarships to spouses and children of America’s fallen or disabled military and first responders.
Devon Energy Reports Q3 2023 Results
Rick Muncrief and other executives said they are planning 2024 capital spending of $3.3-3.6 billion, a 10% drop from this year’s estimated $3.8 billion. About 70% of those investments will be dedicated to the Delaware basin, where Devon controls about 400,000 net acres.
Devon Energy studying possible deals with Marathon Oil, CrownRock – Bloomberg
Devon Energy (NYSE:DVN) is considering major acquisition targets as it seeks to gain scale in U.S. shale, and has held preliminary talks in recent months about a combination with Marathon Oil (NYSE:MRO), Bloomberg reported Wednesday.
Two Devon Energy wells produced 1,100 barrels of oil a day near Okarche, OK
Devon Energy recently filed completion reports on two wells drilled on a single pad in Canadian County with production of more than 1,100 barrels of oil a day.
Devon Q2 2023 Update
Devon Total capital investment for the year is expected to range from $3.6 billion to $3.8 billion. These capital requirements in 2023 are estimated to be self-funded at pricing levels as low as a $40 WTI oil price.
Devon Energy reports big natural gas production from Blaine County wells
Devon Energy had four wells on a single pad in Blaine County with production of more than 1,500 barrels of oil a day and nearly 29,000 Mcf of natural gas.
