Devon to close Houston offices

Moving: Devon to close Houston offices

Luke Johnson

 11 October 2012 16:31 GMT

US independent Devon Energy said on Thursday that it will be closing its 500-person office in Houston, one of the world's top energy hubs, and consolidate its operations in Oklahoma City where the company is headquartered.

The decision will save Devon about $80 million a year through "lower general and administrative expenses and reduced capitalised personnel costs", Devon said.

"Consolidating our US operations will improve our ability to quickly shift the focus of our workforce between project areas as economic conditions dictate,” Dave Hager, Devon’s executive vice president of exploration and production, said in a statement. “In addition, this move will improve the sharing of best practises and enhance overall operational efficiency.”

The company expects to relocate "a number of employees" to Oklahoma City, which will serve as the…

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