Energy M&A » By The Online Investor Staff, updated Thu., Apr. 18, 12:45 AM
Recent mergers and acquisitions in the Energy M&A category.
Slide #4. Devon Energy — Cana-Woodford Shale Acreage
Acquirer: |
Devon Energy (NYSE:DVN) |
Acquiree: |
Cana-Woodford Shale Acreage |
Details: |
Devon Energy Corporation (NYSE:DVN) announced today it has agreed to acquire 50,000 net acres and associated production primarily in the Cana-Woodford Shale for $249 million in cash. The acquired properties represent half of the interests Cimarex Energy (NYSE:XEC) is agreeing to acquire in a cash transaction announced today. Devon's portion of the agreed acquisition includes current production of approximately 5,800 barrels of oil equivalent per day (37 percent liquids) and proved reserves of approximately 23 million barrels of oil equivalent as of January 1, 2014. |
Devon Energy is an independent energy company engaged primarily in the exploration, development and production of oil, natural gas and natural gas liquids. Co.'s operations are concentrated in various onshore areas in U.S. Co. focuses on various U.S. oil and liquids plays located in the Delaware Basin, Anadarko Basin, Williston Basin, Eagle Ford and Powder River Basin.
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April 18, 2024 12:45 AM Eastern
Buy (3.22 out of 4)
100th percentile
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