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Devon Energy- (DVN)-engage in oil and gas exploration, development, and production; the transportation of oil, gas, and natural gas liquids; and the processing of natural gas. As of December 31, 2007, the company had proved reserves of 677 million barrels of oil; 8,994 billion cubic feet of gas; and 321 million barrels of natural gas liquids. It also had interests in 5,586 net oil producing wells and 14,960 net gas producing wells. Devon Energy sells its gas production to various customers, including pipelines, utilities, gas marketing firms, industrial users, and local distribution companies; and crude oil production to refiners, remarketers, and other companies. The company was founded in 1971 and is based in Oklahoma City, Oklahoma.
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