|This Slide: #4 of 100|
Slide #4. Devon Energy — Cana-Woodford Shale Acreage
Devon Energy (NYSE:DVN)
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.
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 United States. Co.'s areas of operation include Delaware Basin, Eagle Ford, Powder River Basin and the STACK development, located primarily in Oklahoma's Canadian, Kingfisher and Blaine counties.
Devon Energy SEC Filing Email Alerts Service
Open the DVN Page at The Online Investor »
Buy (3.17 out of 4)
(ranked lower than approx. 53% of all stocks covered)
Based on Zacks ABR data;
powered by Xignite