In this video,energy analyst Joel South discusses Devon Energy (NYSE:DVN) and explains why it's among the cheapest energy investments available today. Joel believes the stock is trading at half its net asset value because of its heavy exposure to natural gas and current problems in takeaway capacity in the oil sands industry.

What makes Devon attractive is that it's a low-cost producer of natural gas, is improving its liquids growth, and sports one of the best balance sheets in its peer group. While it will take time for pipeline and rail capacity to grow and alleviate the transportation bottleneck in Canada, Devon's $7.5 billion in cash should help it get through this transition. 

Devon is a "buy it and forget it" stock with significant capital gains potential as natural gas prices slowly rise and deliveries from oil sands increase with growing pipeline capacity.