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Devon Energy Announces Acquisition of Cana-Woodford Shale Acreage
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.

date.png07 May 2014 13:32 | comments.png 0 Comments | tags.png devon n-america shale upstream usa [ More ]

Devon Energy Announces C$3.125 Billion Sale of Canadian Conventional Assets
Devon Energy Corporation (NYSE:DVN) today announced that it has entered into a definitive agreement to sell the majority of its Canadian conventional assets to Canadian Natural Resources Limited for C$3.125 billion, or US$2.8 billion using the current exchange rate. The sale excludes the company’s Horn River, Lloydminster and thermal heavy oil assets located in Canada. At December 31, 2013, proved reserves associated with the divestiture totaled approximately 170 million barrels equivalent. The transaction is subject to customary terms and conditions and is expected to close early in the second quarter of 2014.

date.png20 Feb 2014 11:53 | comments.png 0 Comments | tags.png canada cnr devon n-america top upstream [ More ]

Devon Energy and Crosstex Energy to Create New Midstream Business
Devon Energy Corporation (NYSE:DVN) (“Devon”), Crosstex Energy, Inc. (NASDAQ: XTXI) and Crosstex Energy, L.P. (NASDAQ: XTEX) (collectively “Crosstex”) today announced the signing of definitive agreements to combine substantially all of Devon’s U.S. midstream assets with Crosstex’s assets to form a new midstream business.

date.png23 Oct 2013 07:22 | comments.png 0 Comments | tags.png crosstex devon n-america pipeline usa [ More ]

Devon Energy Announces $1.4 Billion Joint Venture
Devon Energy Corporation (NYSE:DVN) today announced it has signed an agreement with Sumitomo Corporation whereby Sumitomo will invest $1.4 billion in exchange for 30 percent of Devon’s interest in approximately 650,000 net acres in the Cline Shale and the Midland-Wolfcamp Shale.

date.png02 Aug 2012 07:43 | comments.png 0 Comments | tags.png deals devon n-america sumitomo upstream usa [ More ]

Devon Energy Announces $2.2 Billion Transaction on Five New Venture Plays
Devon Energy Corporation (NYSE:DVN) today announced it has signed an agreement with Sinopec International Petroleum Exploration & Production Corporation (SIPC) whereby SIPC will invest $2.2 billion in exchange for one-third of Devon’s interest in five new venture plays. Prior to this transaction, Devon had assembled 1.2 million net acres in the company’s previously announced positions in the Tuscaloosa Marine Shale, Niobrara, Mississippian, Ohio Utica Shale and the Michigan Basin. The companies have recently added acreage in the Ohio Utica Shale, increasing their joint position in the play to 235,000 net acres.

date.png03 Jan 2012 15:01 | comments.png 0 Comments | tags.png deals devon shale sinopec upstream usa [ More ]

Devon Energy Obtains Approval for Third Jackfish Oil Sands Project
Devon Energy Corporation (NYSE:DVN) today announced that it has received regulatory approval from the Alberta Energy Resources Conservation Board and Alberta Environment and Water to move forward with the company’s third oil sands project in Canada. Construction of the 100 percent Devon-owned Jackfish 3 project will begin next month with startup targeted for late 2014.

date.png06 Dec 2011 07:13 | comments.png 0 Comments | tags.png canada devon oil-sands upstream [ More ]

Devon Energy Receives Approval for Its Sale of Assets in Brazil
Devon Energy Corporation (NYSE:DVN) today announced that it has received approval from the Brazilian government for the previously announced sale of its assets in Brazil to BP for $3.2 billion.

date.png11 May 2011 08:19 | comments.png 0 Comments | tags.png bp brazil deals devon [ More ]

Maersk Oil to buy Devon Energy’s 15% interest in Angola Block 16
Maersk Oil, a fully owned subsidiary of A.P. Møller – Mærsk A/S, has agreed to acquire a 15% interest in Block 16 in Angola from Devon Energy for an initial payment of USD 70 million and future contingent considerations. The agreement is subject to closing conditions including government approval.

date.png31 Jan 2011 13:00 | comments.png 0 Comments | tags.png angola deals devon maersk [ More ]

Gulf Coast Fractionators Announces Expansion of Its
Gulf Coast Fractionators, a partnership between ConocoPhillips [NYSE:COP], Devon Energy Corporation [NYSE:DVN] and Targa Resources Partners LP [NYSE:NGLS] ("Targa Resources Partners" or the "Partnership"), today announced plans to expand the capacity of its natural gas liquids fractionation facility located in Mont Belvieu, Texas. The maximum gross fractionation capacity of the facility will be expanded by approximately 42 percent (43,000 barrels per day) to 145,000 barrels per day.

date.png12 Oct 2010 06:13 | comments.png 0 Comments | tags.png conoco devon ngl refinery targa usa [ More ]
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