Texas Oil Tycoon Battles California for Offshore Riches
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 27 2025
0mins
Source: WSJ
Oil Industry Dynamics: Oil companies are leaving California, but James Flores of Sable Offshore is eager to enter the market by reviving dormant oil platforms near Santa Barbara.
Ambitious Plans: Flores aims to repair a leaky pipeline linked to a past oil spill and transport crude oil to California's refineries, hoping to achieve significant profits.
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Analyst Views on DVN
Wall Street analysts forecast DVN stock price to fall
20 Analyst Rating
18 Buy
2 Hold
0 Sell
Strong Buy
Current: 48.590
Low
41.00
Averages
45.53
High
55.00
Current: 48.590
Low
41.00
Averages
45.53
High
55.00
About DVN
Devon Energy Corporation is an oil and gas producer in the United States with a diversified multi-basin portfolio headlined by an acreage position in the Delaware Basin. The Company is primarily engaged in the exploration, development and production of oil, natural gas and natural gas liquids (NGLs). It owns a portfolio of assets located in the Delaware Basin, Rockies, Eagle Ford and Anadarko Basin. The Delaware Basin operates in southeast New Mexico and across the state line into west Texas. It offers exploration and development opportunities from many geologic reservoirs and play types, including the oil-rich Wolfcamp, Bone Spring, Avalon and Delaware formations. Its Rockies development consists of its Williston Basin and Powder River Basin assets. The Eagle Ford operations are located in Texas' DeWitt and Karnes counties. The Anadarko Basin development is located in western Oklahoma. It has a joint venture with Dow to develop a portion of its Anadarko Basin acreage.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Cruise Stocks Decline: Major cruise operators like Carnival, Royal Caribbean, and Norwegian Cruise Line fell about 4% as Trump's speech failed to provide a clear path to end the Iran war, heightening concerns over demand.
- Airlines Under Pressure: Rising oil prices caused airline stocks to tumble, with Delta Air Lines, United Airlines, Southwest Airlines, and Alaska Air all dropping about 4%, reflecting the negative impact of high oil prices on airline profitability.
- Gold Miners Slide: After Trump's speech, gold prices fell 1%, leading to declines of about 5% for Newmont and Kinross Gold, and nearly 6% for Iamgold, indicating a weakening demand for safe-haven assets.
See More
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- Energy Companies Benefit: The geopolitical conflict in the Middle East has disrupted global energy markets, driving up oil and gas prices, with companies like Diamondback Energy, Devon Energy, and Chevron expected to see sustained benefits and enhanced profitability through 2026.
- Diamondback Growth Potential: Diamondback Energy anticipates a 9% increase in oil production per share in 2025, followed by another 4% in 2026, and with rising West Texas Intermediate prices, its robust production capabilities are set to drive significant earnings growth.
- Devon Acquisition Impact: Devon Energy plans to complete its acquisition of Coterra Energy in Q2 2026; although the deal was struck before the dramatic price increases, it is expected to positively influence 2026 performance, enhancing market expectations.
- Chevron's Stability: Chevron operates across upstream, midstream, and downstream sectors, which may limit its upside during price surges, yet its 3.3% dividend yield and consistent dividend growth make it an attractive choice for long-term investors.
See More
