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Devon Chairman Predicts Natural Gas 'Revolution' (Jan 11, 2011)

OKLAHOMA CITY (AP) — The chairman of Devon Energy Corp. said he expects a "revolution" in the growing use of natural gas as a power source for electricity generating facilities across the country.

Devon co-founder and Chairman Larry Nichols made the comments Tuesday during a "Legislative Boot Camp" for new Oklahoma lawmakers sponsored by The State Chamber.

Oklahoma City-based Devon is a natural gas and oil exploration and production company that employs more than 5,400 people worldwide.

Nichols said the growing use of technologies like hydraulic fracturing and horizontal drilling has dramatically boosted the amount of natural gas available in the United States. And while he said he predicts natural gas prices to remain fairly low this year, he said he expects prices to rebound as the nation's economy recovers from the recent recession.

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