Devon Energy vs NiSource
Side-by-side comparison of AI visibility scores, market position, and capabilities
Oklahoma City multi-basin oil & gas E&P (NYSE: DVN) ~$14B revenue; Permian Delaware Basin + Williston Bakken (Grayson Mill $5B acquisition), fixed+variable dividend pioneer, $1B FCF improvement plan competing with ConocoPhillips.
About
Devon Energy Corporation is an Oklahoma City, Oklahoma-based oil and natural gas exploration and production company — publicly traded on the New York Stock Exchange (NYSE: DVN) as an S&P 500 Energy component — operating primarily in the Permian Basin (Delaware Basin, Texas and New Mexico), Anadarko Basin (Oklahoma), Eagle Ford (South Texas), Powder River Basin (Wyoming), and Williston Basin (North Dakota), with approximately 1,700 employees producing approximately 750,000-800,000 barrels of oil equivalent per day. Devon announced a comprehensive business optimization plan targeting $1 billion in annual pre-tax free cash flow improvements by year-end 2026, focusing on improving margins and capital efficiency across operations — including well productivity optimization, overhead cost reduction, and marketing contract improvements. Devon acquired Grayson Mill Energy (a Williston Basin Bakken shale operator) in 2024 for approximately $5 billion in cash and stock, adding high-quality Williston Basin production that complements Devon's existing Permian Basin core position. Devon pioneered the "fixed plus variable dividend" model in the E&P sector — paying a base quarterly dividend plus a variable dividend linked to free cash flow generation each quarter — a capital return structure that has since been adopted by numerous E&P companies as a shareholder-friendly alternative to buybacks-only programs.
Merrillville IN regulated utility (NYSE: NI) at $5.5B 2024 revenue; $19.4B 2025-2029 capex plan for 8-10% rate base growth with Columbia Gas/NIPSCO brands and net-zero 2040 target competing with Atmos Energy for gas utility.
About
NiSource Inc. is a Merrillville, Indiana-based fully regulated utility company — publicly traded on the New York Stock Exchange (NYSE: NI) as an S&P 500 component — serving approximately 3.3 million natural gas customers and 500,000 electric customers across six states (Indiana, Kentucky, Maryland, Ohio, Pennsylvania, and Virginia) through its Columbia Gas brands and the NIPSCO (Northern Indiana Public Service Company) electric utility. NiSource employs approximately 7,700 people and operates through nearly 60,000 miles of natural gas pipeline and distribution infrastructure. In fiscal year 2024, NiSource reported operating revenues of $5.5 billion and net income of $739.7 million ($1.62 EPS), up from $661.7 million in 2023. NiSource provided 2025 non-GAAP adjusted EPS guidance of $1.85-$1.89 and announced an increased $19.4 billion capital expenditure plan for 2025-2029 targeting 8-10% rate base growth and 6-8% EPS annual growth. NiSource is committed to a net-zero emissions target by 2040, has reduced greenhouse gas emissions by approximately 72% from 2005 levels, and is on track to retire 100% of its coal assets by 2028, replacing them with utility-scale solar and renewable energy.
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