Devon was founded in 1971 by John and Larry Nichols, a father and son tandem, although the older Nichols had already created the first public oil and gas fund that was registered with the Security and Exchange Commission. It took more than ten years before Devon was registered as a public company in the American Stock Exchange, but achievements came right after that. Devon was the first one to produce coalbed natural gas in the San Juan Basin a year after, and acquired Hondo Oil & Gas in 1992, which was the first of the many acquisitions for Devon Energy Corporation. In the succeeding years, Devon acquired Kerr-McGee’s North American onshore oil and gas properties, PennzEnergy Company, Anderson Exploration Ltd., Mitchell Energy & Development Corporation, and Chief Holdings LLC oil and gas properties. Such acquisitions are proof of its notable growth and expansion, and it does not even include its mergers yet. Devon is part of the prestigious Fortune’s 500 largest corporations in the United States.
To be one of the largest oil and natural gas exploration and production firm in the world is one thing, but to practice corporate social responsibility is another. Oil and natural gas exploration is controversial among environmentalists but Devon manages to meet environment-friendly standards – even surpass them. Devon is a member of the United States’ Environmental Protection Agency, gaining recognition from the organization constantly. It won the Rookie of the Year Award in 2004, Production Partner of the Year and Implementation Manager of the Year in 2005, and Continuing Excellence Awards in 2008 and 2010.
Aside from environment protection, Devon Energy Corporation also nurtures other social advocacies. Devon recently offered free services to employees of local government. It also donated $10,000 to HALO Flight, a non-profit air ambulance operation.