Larry Nichols, chairman and chief executive of Devon Energy Corp. (DVN), said the company would look for a partner to participate in its Gulf of Mexico discoveries.

Nichols said the company was interested in selling a stake in its four oil discoveries in the deepwater Gulf of Mexico but said it was under no pressure to complete a transaction.

"We believe that this opportunity will appeal to large companies around the world," Nichols said during a call to discuss the company's first quarter earnings.

-By Jason Womack, Dow Jones Newswires; 713-547-9201; jason.womack@dowjones.com