Oklahoma’s Devon Energy — An Energy Company With Pride

Devon is lauded by both outsiders and its own employees

   

Chesapeake Energy (NYSE:CHK) was Oklahoma’s 2011 representative in the Real America Index, but a little trouble — specifically, in the C-suite — has us looking at another home-grown energy firm: Devon Energy (NYSE:DVN)

Devon Energy, founded in 1971 by John Nichols and his son, Larry, is one of the nation’s largest independent natural gas and oil producers.

It also has been less of a PR nightmare than Chesapeake in the past few years.

The company puts more than 5,200 people to work, many of whom have had glowing things to say about their employer — and that’s why Devon has been honored as one of Fortune magazine’s 100 Best Companies to Work For.

But Fortune’s fondness for Devon goes far past its workers — DVN can boast that it’s the only U.S. energy company on the Fortune 500 that claims both Best Companies to Work For and World’s Most Admired Companies honors, and one of only 18 companies overall. Devon also has earned several environmental awards, including recognition in 2008 by the EPA for working to reduce methane emissions in its facilities.

Much of the company’s growth since coming public in 1988 has come through M&A, including acquisitions of Anderson Exploration, Mitchell Energy and PennzEnergy, and a 2003 merger with Ocean Energy. In 2011, DVN grew revenues to $10.6 billion, roughly $1.5 billion better than the prior year.

Devon Energy performs a number of charitable works across the state of Oklahoma, including hunger initiatives and fundraising benefiting the Kevin Durant Family Foundation, the Oklahoma City Thunder star’s charity geared toward helping children and families.

The company also has made its mark on the Oklahoma City skyline. In March 2012, construction was completed on the 52-story Devon Tower — a roughly $750 million project meant to accommodate up to 3,000 Devon employees, and that, at 850 feet, will be the tallest building in Oklahoma.

Check out the complete list of Real America Index components, along with an interactive map of short-term and long-term returns.

Kyle Woodley is the Assistant Editor of InvestorPlace.com. As of this writing, he did not hold a position in any of the aforementioned securities. Follow him on Twitter at @KyleWoodley.


Article printed from InvestorPlace Media, http://investorplace.com/real-america-index/oklahoma-devon-energy-an-energy-company-with-pride/.

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