The transformation to New Devon, a.k.a. Devon Hospitality, is nearly complete. Once Devon can divest the remaining oil and gas assets, they can focus on their core business of hospitality which is not as sensitive to commodity price environment.
New Devon will have 3 BU's:
The Colcord
Vast
Commercial Real Estate Sub-leasing (empty offices)
Devon Hospitality will be a top quartile performer in this industry because of these premier assets in the heart of thriving Oklahoma City Area.
All other E&P's are merging, acquiring, or being acquired. Devon's Lord and Savior is simply liquidating the company by continuing to sell "non-core" assets for clearance rack prices in hopes of becoming a buyout target. The valuation measures that Devon trades at are justified based on the value destruction that comes from every asset transaction. Devon might even give the Barnett away for free at this point.
You can bust your tail and save the company a few hundred thousand, but you'll never undo the lost BILLION dollars from Canada being sold severely below market value.
#NewDevon
Maybe the street thinks he's that guy who makes the slacks....based on his last name.
The market is the only thing that is keeping Devon propped up lately.
A few of us have implied that the CEO is sharp, yet where is the evidence of this? He can pound the table all day complaining about the unrealized stock valuation, but it's pretty clear the street thinks he'd be better at leading a hootenanny than an energy company. What are they missing? Aside from being tall and blond.
but, but, but CHK has the arena where the Thunder play.
I didn’t want to laugh at this.
I guess Aravalli and Nebu cafeteria will be divested?
Shooting for the gold curve.
World-Class
the core* of Oklahoma City acreage*