Devon’s Key Assets Are in the Delaware and the STACK
We have refreshed the fair value estimates for our upstream oil and gas coverage after incorporating meaningfully weaker crude prices. To be clear, there is no change in our midcycle price forecasts--$55 per barrel and $60 per barrel for West Texas Intermediate and Brent, respectively. But after the recent slump, we are factoring in lower prices in the near term, and that alone is enough to dampen valuations across the sector.WTI crude closed at $46 on Dec. 18, extending a rout that has now wip...
Devon Energy is an independent energy company engaged primarily in the exploration, development and production of oil, natural gas and natural gas liquids. The company's operations are concentrated in various onshore areas in United States. The company's areas of operation include Delaware Basin, Eagle Ford, Powder River Basin and the STACK development, located primarily in Oklahoma's Canadian, Kingfisher and Blaine counties.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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