Devon Energy CEO: “Political problems” a factor in Marcellus March 16 2010
Devon Energy is expanding its North American exposure, but not in the Marcellus shale formation. The crazy bald guy asks, “why not?”
Larry Nichols, CEO of Devon gives one reason (t = 5:10):
The Marcellus shale is certainly an attractive place to be, and we don’t want to diminish that in any way. But when we looked at all the shale plays and where we could grow production the fastest, and grow it with the least amount of political problems, it was not high on our list.
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