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Devon Energy Allocates $800 Million to Oil Sands Projects in 2012

SUGAR LAND--February 16, 2012--Researched by Industrial Info Resources (Sugar Land, Texas)--In yesterday's fourth-quarter and full-year 2011 earnings announcement, executives of Devon Energy Corporation (NYSE:DVN) (Oklahoma City, Oklahoma) discussed the company's capital spending and growth plans for 2012. The company's total exploration and production capital spending in 2012 is planned to be between $5.1 billion and $5.5 billion. The capital will be used almost exclusively for exploration and development in the company's oil- and liquids-rich plays.

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