Between Northstar, Anderson, and the short lived BP Oil Sands deal, Devon spent well over $10B. Now they sell off the Canadian assets for $2.8B. Thanks for destroying value! The entire executive leadership team should be fired, but we have a do nothing Board.
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Chevy is gonna buy the rest guys. Only difference is Chevy ain't cnrl and so all Canucks getting jobs and all OKC getting packages. Davy boy is clearly making New Devon an attractive acquisition target. Don't worry about Devon y'all, it soon won't exist. Canada out! Also we literally just faked the dog from the February announcement till the sale. Dave said won't give it away and then gave us away while letting us just burn G&A doin nuthin :). Just wait for your package guys and then go work for someone else.
Why not sell the company?
Sandusky and the kids will get what they want and the world can be rid of us.
This post is misleading. The original sale to Canadian Resources was a significant divestiture as well which included many of the assets from previous investments. This turned out to be a bad investment, but to be fair- the entire province of Alberta is/was full of companies also screwed by Canadian policies and lack of investment in O&G. Of all the misses by DVN Mgmt, this was the most excusable.
I love it!! Buy high and sell low. Best model ever!
Race to the bottom: "Devon Energy Hands The Win To Canadian Natural Resources". I'm wondering if Rob can convince some other gullible company that he's presidential timber.
https://seekingalpha.com/article/4267871-devon-energy-hands-win-canadian-natural-resources
That's a darn shame. TV seemed to show promise back in the Houston office. Sounds like he's fully assimilated now.
Twenty years ago, Devon came into Houston, a little oil company out of Oklahoma City. Now, it's STILL just another little oil company in Oklahoma City.
Attaboys for DH and TV, they have sold over three fourths of a formerly great CO, and have a dismal stock price to show for it.
Technically $2.4 as DAN agreed to give CNRL all of Devon Canada's cash flow from Jan 1st till the deal closes. Essentially sold it for ~2.5x annual net earnings.
What you allow is what will continue. Warriors in 5
Sorry about that, I got distracted by a young lady. I went over to her, put my hands on her shoulders and whispered in her ear how pretty she is. But yeah, vote for me and I will make your little Devon oil change company thrive again.
Thay would be John Nichols, not Larry - unless I missed the announcement.