Devon Energy Taking on Horizontal Drilling Full Time
Devon Energy has been taking steps towards more and more horizontal drilling, with a focus on the technology being used to do so. They have been changing their company strategy based on the goods and services that are being used the most, or on the forefront of the markets. This is an admirable and progressive approach to business. Devon Shire agrees with this, and believes that DVN is doing something right.
"Focus On Value Per Share
Devon management has a long history of wisely allocating capital between debt reduction, project development and buying back shares when the price is right.
Repositioning of the Business
In the past two years Devon has been working on a massive repositioning of its asset base.
Devon has been dumping offshore oil and gas reserves and loading up on North American resource plays. Another oil and gas company that has not gotten the memo that the shale gas and unconventional resource plays are nothing more than ponzi schemes!"
Find additional charts and research here: http://turnkeyoil.com/2011/10/05/devon-energy-taking-on-horizontal-drilling-full-time/