Devon is involved with two other companies in a find in the Gulf of Mexico that could yield 15 billion barrels of oil- a 50% increase in the total American oil reserves! Devon has a 25% share in the find. So, if it really is an additional 50% on top of the oil, that would make it account for 1/3 of the nation's oil- and since Devon would own 1/4 of that, they would lay claim to 1/12 or 8% of the US's oil reserves- that's big news. Certainly would throw Devon further up there with the big time oil players.

On the day of the announcement, Devon's stock was the second most traded, and almost $2 billion of stocks exchanged hands throughout the day. The stock price climbed to a new record high during the day, making it one of the fastest increasing stocks on the market for the day.

This is great news for the OKC oil company- will they need a lot more employees to handle it?

Their employees out in the field don't actually live in OKC. But Devon is of course a growing company, and as a company grows, more management and administrative jobs will be created at HQ.

That's what I was referring to.