While Devon Energy made a lot of money in the past year in its oil and gas exploration throughout the U.S., it also paid nearly $1.5 billion in royalties, fees and lease payments to the states where it operates.
A Special Disclosure Report filing with the Securities Exchange Commission showed the Oklahoma City energy firm, known for its 50-story office tower in the downtown area, made $1,498 billion in various fiscal 2024 payments to Oklahoma, New Mexico, North Dakota and Wyoming.
New Mexico received a total of $727 million from Devon Energy including $699 million in royalties, $17 million in lease bonuses and $11 million in fees to the state.
Devon’s North Dakota payments included $257 million in royalties and $2 million in state fees, making a total of $259 million.
The company paid $52 million in royalties to Wyoming along with $2 million in fees for a grand total of $54 million.
Its payments to Oklahoma included $9 million in royalties and $2 mllion in fees, for a sum of $11 million.
Montana was also on the list but there were no 2024 payments reported by Devon.
The company’s total in royalties to New Mexico, North Dakota, Wyoming and Oklahoma amounted to $1,017 billion.