Two large players in our area, Devon Energy and WPX Energy, have announced a merger. The new company, which will retain the name Devon Energy, will certainly be one of the largest companies in the Delaware Basin. In fact, production in the Delaware will account for about 60 percent of the new company’s total production. Their current activity in this area is 17 drilling rigs, but the potential is obviously much higher.
Dave Hager (from Devon) will serve as the executive chairman of the board. Rick Muncrief (WPX) will serve as president and CEO. The company will continue to call itself Devon Energy and keep its Oklahoma City headquarters. We’ve had a great relationship with these companies in the past and look forward to working with the new merged Devon Energy in the future. We certainly hope the merged company will recognize the incredible potential in our area and strive to keep all of its employees and assets.
From the Office of Mayor Dale Janway