Devon Energy (DVN) to Combine International and Gulf Divisions Into One Offshore Division
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Devon Energy Corporation (NYSE: DVN) plans to combine the company's International and Gulf Divisions into one offshore division. The integration will provide greater focus and efficiency to these areas of operations which have similar scope, technical requirements and strategy. The newly formed Offshore Division will remain in Houston.
"The decision to combine these two divisions will allow us to better pool our knowledge and resources in offshore exploration and development," said Dave Hager, executive vice president of exploration and production. "We continue to view our deepwater strategy as a means to enhance Devon's long-term growth opportunities."
Tony D. Vaughn has been named senior vice president and will lead the newly formed Offshore Division.
Devon Energy Corporation (Devon) is an independent energy company engaged primarily in oil and gas exploration, development and production, the acquisition of producing properties, the transportation of oil, gas and natural gas liquids and the processing of natural gas.[SM]
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