John Richels Is One of the Wealthiest Men in Oklahoma
John Richels serves as Chairman of both EnLink Midstream Partners, LP and EnLink Midstream LLC’s Boards. Additionally, he holds the positions of President and Chief Executive Officer for Devon Energy Corporation.
He joined Devon in 1998, leading their Canadian subsidiary until being named president and CEO in 2004. Prior to that he served as managing and chief operating partner at Canadian-based national law firm Bennett Jones.
Early Life and Education
John Richels has been in the oil and gas business for many years. In fact, he co-founded America’s largest independent producer of oil and gas. Furthermore, John is an ardent philanthropist, serving on boards at numerous nonprofit organizations. A native Oklahoman himself, John feels proud to call Oklahoma City metro area his home.
He’s most proud of his commitment to open communication. He hosts breakfasts for randomly selected employees, holds question-and-answer sessions throughout the company and organizes regular field trips to engage staff across different divisions. While he may not be as adept in sales and marketing as some of his colleagues in engineering and operations departments, he still manages to stay abreast of company activities.
John Richels was elected vice chairman of Devon Energy Corporation in December 2014. Prior to that, he served as its president and CEO from 2010 onward. Under his guidance, Devon Energy’s repositioning to drill more shale oil wells was significantly strengthened.
In June 2016, he was appointed executive chairman, replacing co-founder Larry Nichols who had served as chief executive officer since 1980.
Richels has been an active civic leader for many years, thanking employees regularly and hosting employee luncheons. He recently exercised 42,000 units of BOK stock worth over $11,935,047; previously his holdings totaled 473,801 shares. Since 2003 he has traded approximately 2,978 units every seven days; the biggest trade he ever made was exercising 106,000 BOK shares on August 28, 2012 which had a value of $2,443,300 at that time.
Achievements and Honors
John Richels is the President and Chief Executive Officer of Devon Energy Corporation, an Oklahoma City-based energy giant. He was elected CEO in 2010 after serving as president of its Canadian subsidiary and senior vice president and chief financial officer before that. Throughout Richels’ tenure, the company has navigated its most challenging periods of transition and growth. As leader, Richels’ primary responsibility is creating a culture which motivates employees to work together, innovate and deliver results through various tools such as an effective employee engagement program, cutting-edge performance management tools and an organized benefits package for employees.
He has earned awards for his contributions to both the industry and community. As a board member of the Independent Petroleum Association of America, SSM Health Care of Oklahoma and Oklahoma City Boathouse Foundation, he serves on several boards.
John Richels is proud to call Oklahoma his home after becoming a naturalized citizen through an emotional ceremony held Friday afternoon at the federal courthouse in Oklahoma City. With his wife Charlotte by his side, John joined 100 others who became citizens through naturalization ceremonies that celebrated Oklahoma’s history and culture.
He has a passion for helping those less fortunate. He has served on the board of directors of the 9:03 Fund, which assists families of victims of Oklahoma City bombing, and co-chaired its Looking Back, Thinking Forward campaign to renovate and fund National Memorial and Museum renovations and begin building its endowment. Furthermore, he sits on the University of Oklahoma board where his wife has made numerous donations while also creating a scholarship program with proceeds benefitting the 9:03 Fund.
John Richels is estimated to be worth an impressive $11.9 Million. As CEO and Chairman of Devon Energy Corp, he will retire next year after nearly 25 years at the company; David Hager will replace him as president and COO. According to a Form 4 filed with the SEC, Richels owns at least 42,000 units of BOK stock valued at over $11,935,047 – making him one of Oklahoma’s wealthiest men.