NYSE: DVN · Oklahoma City, Oklahoma · Multi-basin U.S. independent

Devon
Energy

A publicly traded U.S. independent producer with positions in the Permian Delaware, Williston Basin, Eagle Ford, Anadarko, and Powder River Basin, deepened by the WPX Energy and Grayson Mill acquisitions.

5
Active Basins
DJ to Williston
5
States
TX, NM, ND, OK, WY
1971
Founded
Oklahoma City
2
Predecessors
WPX, Grayson Mill
Public
Status
NYSE: DVN
01 The Company

Who Devon is, and what they hold.

A publicly traded U.S. independent with positions across five basins, deepened by the WPX and Grayson Mill acquisitions.

Devon Energy is a publicly traded U.S. independent oil and gas producer headquartered in Oklahoma City. The company has been a major U.S. independent for decades, and through the 2021 WPX Energy merger and the 2024 Grayson Mill Energy acquisition has expanded its footprint particularly in the Permian Delaware and the Williston Basin.

Within our 12-state footprint, Devon holds material positions in five distinct basins: the Permian Delaware in Texas and New Mexico, the Bakken in North Dakota, the Anadarko in Oklahoma, the Powder River Basin in Wyoming, and the Eagle Ford back in Texas.

Devon’s largest current position is in the Permian Delaware Basin, particularly in Eddy and Lea counties in New Mexico and adjacent Texas counties, much of it inherited from the WPX acquisition. The Williston Basin position in McKenzie, Dunn, and Williams counties was substantially expanded by the Grayson Mill transaction. Smaller positions in the Eagle Ford, the Anadarko/STACK, and the Powder River Basin round out the U.S. onshore portfolio.

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02 Where They Work

Five basins, five footprints.

Devon's operating areas span the Mid-Continent, the Permian, and the northern Rockies. Mineral owners can hold interests in two or three of them at once.

In the Permian Delaware, the legacy WPX acreage and Devon’s earlier holdings combine across Eddy and Lea counties, New Mexico, and Loving and Reeves counties in Texas. This is the largest single area of activity for the company today, with stacked-pay horizontal development across the Wolfcamp, Bone Spring, and Avalon intervals.

In the Williston Basin, the former Grayson Mill position concentrates in McKenzie and Dunn counties, North Dakota, with smaller positions to the north. The Bakken and Three Forks formations remain the primary targets. The 2024 transition from Grayson Mill to Devon as operator of record was material for many royalty owners in the area.

In Oklahoma, Devon’s Anadarko position covers parts of the STACK play in Kingfisher, Canadian, and Blaine counties. The Eagle Ford position is smaller and concentrated in DeWitt County, Texas. In Wyoming, Devon has periodically been active in Converse County in the Powder River Basin.

03Corporate History

Recent activity, andwhat is behind it.

Material events that affected Devon's operating footprint and, by extension, mineral owners on its leased acreage.

  1. 2024
    Closed acquisition of Grayson Mill Energy, adding a substantial Williston Basin position in North Dakota. Source: Devon Energy press release, September 27, 2024.
  2. 2021
    Closed merger with WPX Energy, adding WPX's Delaware Basin and Williston Basin positions. Source: Devon Energy press release, January 7, 2021.
04Predecessors and Acquisitions

Names that becameDevon Energy.

If a division order or royalty statement shows one of these names, the operator of record on the well today is Devon. The underlying interest carried over unchanged through the transaction.

Division order shows an old name?

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05 What This Means for Mineral Owners

If you receive royalty checks from Devon.

Devon's multi-basin presence and active acquisition history both shape what mineral owners see on statements and where to look when something needs verification.

Receiving royalty checks from Devon Energy means you own a fractional interest in one or more producing wells that Devon currently operates. The check arrives as a percentage of the well’s net revenue at your decimal interest, after any post-production costs your lease permits. The arrival of a Devon check does not, by itself, tell you how many net mineral acres you hold, where they sit precisely on the surface, or whether other unleased acreage exists in the same chain of title. It tells you that one well, somewhere, is producing and Devon is paying you a share.

Devon operates across five basins in our footprint: the Permian Delaware in Texas and New Mexico, the Bakken in North Dakota, the Anadarko in Oklahoma, the Powder River Basin in Wyoming, and the Eagle Ford back in Texas. If you have inherited interests across more than one of these states, you may receive a single Devon statement covering wells in two or three different basins, or you may receive separate statements depending on how Devon has structured your account. The decimal interests on each well are independent of one another; an issue on one does not affect the others.

Devon has been an active consolidator over the past several years. The 2021 WPX Energy merger and the 2024 Grayson Mill Energy acquisition both transferred operator-of-record status on a substantial number of wells from those legacy companies to Devon. If your records still show WPX or Grayson Mill, the underlying interest carried over unchanged. The same is true if Devon later divests an asset to another operator: your interest does not change, only the name on the next check. Keeping older statements as part of your records makes the chain easier to follow if a question comes up later.

If you have a question about a specific Devon-paid interest, the most direct path is the operator’s owner relations channel for account-level questions (decimal interest, statement details, address changes, probate updates) and the relevant state regulator’s well database for operator-of-record verification. We are happy to help you read what you have and identify what is missing if you want a second set of eyes on it.

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06Questions Mineral Owners Ask

What peopleactually ask about Devon.

We have walked through these conversations with mineral owners many times. Below are honest answers to the things people most often want to know.

01
How do I update my mailing address with Devon Energy?
Devon publishes a dedicated owner relations channel for division-order and address changes at devonenergy.com/owner-relations. The request typically needs to be in writing, signed, and submitted with an updated W-9. Some changes (especially after a name change or transfer) may require notarization. Updating your address with Devon does not automatically update it with other operators, so if you receive royalties from multiple operators, you will need to file an address change with each one separately. We are not affiliated with Devon and cannot resolve account-level questions on the operator's behalf.
02
My division order shows WPX Energy, not Devon. What changed?
Devon Energy and WPX Energy completed an all-stock merger in January 2021. The combined company kept the Devon name. WPX's Permian Delaware and Williston Basin positions became part of Devon. If your division order still shows WPX, it predates the merger; the underlying interest carried over to Devon unchanged. Your decimal interest should be the same. If you have not received a re-issued division order in the Devon name, the operator's owner relations team can confirm what is on file for you.
03
My recent statements switched from Grayson Mill Energy to Devon. Was that an operator change or a buyer change?
Devon acquired Grayson Mill Energy in September 2024, adding a substantial Williston Basin position. From the mineral owner's standpoint this is an operator change at the well level, not a transfer of your minerals. You still own the same fractional interest in the same minerals. Devon now operates the wells and disburses royalty payments. Your decimal interest should reconcile across the transition. If it does not, that is almost always a transcription issue that owner relations can correct, but only if flagged.
04
How do I confirm Devon is the current operator on a specific well?
Each state regulator publishes a public well database. For Williston Basin wells, the North Dakota Industrial Commission's GIS well search lets you look up any well by API number or by section, township, and range. The Texas, New Mexico, Oklahoma, and Wyoming regulators maintain similar searchable databases. The current operator of record is shown in the well's permit data. Operator changes at the well level are usually reflected in regulator data within weeks of a transaction closing.
05
I think a Devon royalty payment is late or short. What is the right next step?
The first thing to check is whether the well was actually producing during the relevant production month. Operators typically pay one to three months in arrears, so a check in October usually reflects production from July or August. If timing checks out and the amount looks wrong, the most common issue is that decimal interest was transcribed incorrectly during a re-issue. Devon's owner relations team can pull the calculation and walk through it. They generally need the property name or well number from the statement to research it.
06
I inherited mineral rights and the prior owner's name is still on Devon's payment. How do I get the account changed to mine?
This requires probate documentation. Once the estate has been probated and you have Letters Testamentary or equivalent court paperwork showing you are the rightful heir, you submit copies along with a recorded conveyance (mineral deed of distribution, probate decree, or similar) to Devon's owner relations team. Many operators also require a new W-9 in your name. They will then re-issue the division order. If the estate is still in probate, payments may be held in suspense until the chain of title is clear.
07
Can I sell mineral rights that pay royalties through Devon Energy?
Yes. Mineral rights paid through Devon are bought and sold the same way as any other producing interest. The sale of your mineral interest does not require Devon's involvement; it is a transaction between you and the buyer. We are happy to look at what you have and walk through what it might be worth, whether your statements show Devon, WPX, or Grayson Mill.
08
Receiving a check from Devon Energy does not tell me what minerals I own. How do I find that out?
A royalty check tells you that you own a fractional interest in a producing well that Devon operates, and what that decimal interest is. It does not by itself tell you how many net mineral acres you own, where they are precisely located, what formations are leased, or whether other unleased acreage exists. To get the full picture, pull the lease and any deed history from the county where the minerals are located, or work backward from the well's API number using the relevant state regulator's database. If you inherited the minerals and have only the check stub to go on, that is enough to start, and we are happy to help piece the rest together.

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Devon Energy
minerals?

Send us what you have, or what you think you have. If your statements are from Devon Energy, or from a name they acquired, we can pull operator data, check decimal interest math, and put together a plain-English summary with our reasoning. If it makes sense to go further, we move on your timeline. If not, you have a free breakdown you can take anywhere.

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Information about Devon Energy on this page is drawn from publicly available sources, including company press releases, SEC filings where applicable, state regulator data, and mainstream news reporting. It is current as of May 2026. Operator ownership, corporate structure, and active basins can change. Verify current status with the operator directly before making any decisions about a lease, division order, or sale.