Sunday, December 22, 2024
Devon Energy to buy shale peer WPX for $2.56 billion in Delaware push- oil and gas 360

Devon Energy to buy shale peer WPX for $2.56 billion in Delaware push

Reuters U.S. oil and gas producer Devon Energy Corp DVN.N said on Monday it will buy Permian basin peer WPX Energy Inc WPX.N for $2.56 billion as it looks to scale up its presence in the Delaware portion of the prolific shale field. The deal values WPX at $4.56 per share, just 2.7% higher than the stock’s closing price on Friday. WPX shares surged