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Devon named to World's Most Admired Companies list

May 31, 2012 - Staff

Devon Energy Corporation has been named one of FORTUNE magazine's World's Most Admired Companies. This is the six straight year for Devon to make the list. The corporation has a major gas and oil field and office in rural Riverton.

Devon remains the only U.S. energy company listed among the Fortune 500, the Fortune World's Most Admired Companies and the Fortune 100 Best Companies to Work For.

Only 20 companies, regardless of industry, can claim the distinction. They include banks and investment firms, software and communications giants, grocers and restaurant and hotel chains.

Within the "mining/crude-oil production" category, Devon ranked No. 1 in social responsibility. Fortune ranked Devon No. 3 in innovation, people management, use of corporate assets and quality of products/services.

Of the 358 total companies on the most admired list, Devon is the only one based in Oklahoma.

For the past decade, Devon has been part of the Fortune 500, which is a ranking of America's largest corporations. The other two lists rely upon detailed analysis of numerous criteria.

For instance, to arrive at its list of the world's most admired companies, Fortune surveys businesspeople throughout the globe. Criteria include financial soundness, ability to attract and retain talented people, wise use of corporate assets, long-term investment value, innovation and social responsibility.

The magazine's list of the best workplaces puts heavy emphasis on an anonymous survey of each company's employees. It also examines a company's culture to assess such factors as trust and credibility of leadership, atmosphere of respect and fairness, benefits, voluntary turnover and employee pride.

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