Devon Energy stepping away from oilsands

Oklahoma City-based Devon Energy Corporation is getting out of the Canadian oilsands.

Devon owns the Jackfish steam-driven oilsands complex and conventional heavy oil wells near Lloydminster.

It’s also operator of the proposed Pike oilsands project, which received provincial regulatory approval in 2014 but has not yet been given the green light for construction.

Norway’s Statoil, France’s Total S-A, Arkansas-based Murphy Oil and Houston-based ConocoPhillips have previously reduced their ownership in the oilsands.