Devon Energy

NYSE: DVN

Updated Mar 30, 2026

Profile compiled and reviewed by the Houston Oil Companies Data Team from public filings and company sources.

Upstream · Independent E&P

Devon Energy

DVN

Devon Energy is a leading independent E&P company with significant Houston-area operations and major Permian Basin assets.

Founded: 1971
Employees: 4,700+
Revenue: $15 billion (2023)
HQ: Oklahoma City, OK (major Houston presence)

Delaware BasinPermian BasinEagle FordUnconventional Resources

Devon Energy Corporation is a leading independent oil and natural gas exploration and production company. While headquartered in Oklahoma City, Devon has significant operations and employee presence in the Houston area, particularly since its 2021 merger with WPX Energy. Devon is one of the largest producers in the Permian Basin's Delaware Basin.

Headquarters

Oklahoma City, OK (major Houston presence)

Founded

1971

Employees

4,700+

Revenue

$15 billion (2023)

CEO

Clay Gaspar

Website

devonenergy.com

History of Devon Energy

Devon Energy was founded in 1971 by John Nichols and his son Larry Nichols in Oklahoma City. The company grew through major acquisitions including Mitchell Energy (2002, which gave it George Mitchell's pioneering Barnett Shale position) and WPX Energy (2021). The Mitchell Energy acquisition played a key role in the US shale revolution.

Operations & Business Segments

Devon's operations are concentrated in key US oil basins: the Delaware Basin (New Mexico/Texas), the Anadarko Basin (Oklahoma), the Powder River Basin (Wyoming), the Eagle Ford (Texas), and the Williston Basin (North Dakota). The company is one of the top Permian Basin producers.

Headquarters Location

Oklahoma City, OK (major Houston presence)

Key Specialties & Capabilities

Delaware BasinPermian BasinEagle FordUnconventional ResourcesShareholder ReturnsVariable Dividend

Frequently Asked Questions About Devon Energy

Does Devon Energy operate in Houston?▾

Devon Energy is headquartered in Oklahoma City but has significant operations and employee presence in the Houston area, particularly after its merger with WPX Energy. Many of its operations are in Texas.

What is Devon Energy known for?▾

Devon Energy is known for its pioneering role in US shale development (through its acquisition of Mitchell Energy), strong Permian Basin production, and its innovative variable dividend framework for shareholder returns.

What basin does Devon Energy focus on?▾

Devon's primary focus is the Delaware Basin portion of the Permian Basin, along with assets in the Anadarko Basin, Powder River Basin, Eagle Ford, and Williston Basin.

What does Devon Energy do in Houston?▾

Devon Energy is a upstream company based in Oklahoma City, OK (major Houston presence). Devon Energy is a leading independent E&P company with significant Houston-area operations and major Permian Basin assets.

Where is Devon Energy headquartered?▾

Devon Energy is headquartered in Oklahoma City, OK (major Houston presence), founded in 1971. The company operates in Houston's energy corridor as part of the upstream sector.