Devon Energy Doles Out $10,000 Bonuses as Oil Boom Times Roar Back
- Devon and WPX Energy completed their combination in January
- Oil producer’s stock price has risen about 185% this year
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Devon Energy Corp.’s rank-and-file workers are in for a surprise holiday treat: $10,000 bonus checks.
In the latest sign that boom times are back for the U.S. oil patch, Devon told its 1,600 employees on Tuesday that workers below the vice president level will be getting the unexpected cash, CEO Rick Muncrief said in an interview. The bonuses are a reward for successfully integrating with WPX Energy Inc. after the companies agreed to merge last year, Muncrief said.