This says it all. Devon squanders the big Trump tax cut buy paying off debt. Then they use proceeds from Barnett sale to buy back stock rather than invest in new opportunities.
And they wonder why they can’t get funding to drill and the stock price flatlines.
So now that nobody wants our bonds, nobody wants the stock, Devon has to give away some returns by inviting a joint partner, Dow. Totally a desperate move.
2 replies (most recent on top)
Dow Chemical? Dow Jones? Tony Dow?
very interesting and perceptive!