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Devon CEO Confident Onshore Is Enough
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Web Editor, Mad Money
Devon Energy recently announced it would sell its Gulf of Mexico and international assets, saying they would cost too much and take too long to generate returns. Cramer during Wednesday’s Mad Money called the move “a huge change,” but Chairman and CEO Larry Nichols doesn’t think his firm needs the properties to survive.
Devon [DVN
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] has plenty going on here at home, said Nichols, pointing to “an incredible portfolio of assets onshore” in the US and Canada. While some companies are forced to work internationally because they lack strong domestic revenues, he said, that’s not a problem for Devon.
“We can make those assets hum,” Nichols said of his North American business.
Watch the video for Cramer’s full interview with the Devon Energy CEO.
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