Things that make you go hmmm...

CEO put in position who has been through large sale in past (Kerr-McGee)
CEO brought out of retirement (age 61 now and will one day retire again with nice nest egg)
Has worked to whittle down senior mgmt to only four
Anybody who doesn't tow the line perfectly is out
Has dropped headcount on a constant basis (some truly needed to occur though)
Has "strategically" shed assets to "streamline and focus" (even some that were steady stream producers)
Continually created high stress environment (maybe desired attrition?)
Placed IT and other groups in disarray with departure of two leaders (desired attrition again?)
Nichols completely retired from DVN in 2016
Richels to completely retire from DVN in 2019
Stock price pushed to a level that could be very attractive to other companies

I know rumors have been floated many times in the past, but could this time be for real? Acquisition time anyone? And I don't mean DVN doing the acquiring.

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Devon has a poison pill in Canada. ~5 billion of Devon's "value" is locked up in that presently terrible asset. The rest of Devon production without Canada is I think 70% gas, 30% liquids. Which is also less attractive. Maybe it has gotten a little better than that. Qatar Petroleum is supposed to be dumping some billions into the US market, they may want the gas for their lng operation? I think any deal to sell Devon would have to be in pieces. Maybe a merger? I do think there's a reason Tony is still around. Golden parachute???

You've solved the case, Columbo...but just one more thing....Sorry about the ashes on your carpet, ma'am.

And note the COO TV was dispatched to the Houston office, to turn it around. He ended up selling Int’l, Shelf, and Offshore. Closed the office.

Thread regarding Devon Energy Corp. layoffs

Things that make you go hmmm...

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