Devon Energy has ‘strong’ finances, no debt coming due, lots of cash

By Devika Patel

Knoxville, Tenn., June 26 – Devon Energy Corp. has a “strong financial position,” stemming from the company not having any “significant” debt coming due until 2021, as well as $2 billion of cash and a $3 billion undrawn revolving credit facility, an executive said Monday.

“Our strong financial position provides us the ability to execute on capital and growth plans,” chief operating officer Tony Vaughn said at the J.P. Morgan 2017 Energy Equity Conference in New York on Monday.

“We have a strong financial position with investment-grade credit ratings.

“We have over $2 billion of cash in hand, $3 billion revolver untapped, no significant debt maturities until 2021, he said.

Devon Energy is an oil and natural gas company based in Oklahoma City.

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