Devon Energy - Timeline

Timeline

• 1971 Devon founded by John Nichols and his son, Larry.
• 1988 Devon becomes a public company, listing on the American Stock Exchange under the ticker symbol DVN.
• 1992 Acquisition of Hondo Oil and Gas for $122 million sets the stage for a series of major acquisitions in the years to come.
• 1996 Devon acquired Kerr-McGee’s North American onshore oil and gas properties for $250 million, increasing the company’s reserves by 46 percent.
• 1998 Devon acquired Northstar Energy for $750 million.
• 1999 The $2.6 billion acquisition of PennzEnergy establishes Devon as a significant offshore Gulf Of Mexico operator. Employee count reaches 1,500 worldwide.
• 2000 Devon merges with Santa Fe Snyder in a $3.5 billion deal. Larry Nichols is named Chairman of the Board and Devon is added to S&P 500 Index.
• 2001 Acquisition of Anderson Exploration for $4.6 billion, positioning Devon as the third-largest independent gas producer in Canada.
• 2002 Devon acquires Mitchell Energy for $3.5 billion, adding the prolific Barnett Shale of North Texas to its portfolio. Devon is named to the Fortune 500.
• 2003 Devon’s $5.3 billion merger with Ocean Energy creates the largest U.S.-based independent oil and gas producer.
• 2004 Devon transfers its common stock listing to the New York Stock Exchange (NYSE: DVN).
• 2006 Devon acquires Chief Oil and Gas Barnett Shale leasehold for $2.2 billion, expanding Devon’s dominant position in North Texas.
• 2008 Devon announces plans to build a new 925-foot (282 m) tall, 1,900,000-square-foot (180,000 m2) corporate tower in Downtown Oklahoma City.
• 2009 Devon executives announce plans to sell all of the company's international and Gulf of Mexico assets during 2010.
• 2010 In June, Devon president John Richels is promoted to CEO; co-founder and chairman Larry Nichols becomes executive chairman.
• 2012 The company closed its Houston office, which was located in the Allen Center in Downtown Houston.