Yahoo Finance U.S. oil and gas producer Devon Energy has lost bids to acquire at least three of its peers in the last 12 months because its shares were spurned as acquisition currency, according to people familiar with the negotiations. Devon missed out on the sector’s dealmaking boom by losing to ConocoPhillips the $22 billion deal to acquire Marathon Oil,
Oil Price Devon Energy, (NYSE: DVN), announced a deal with Delfin Midstream (privately held) on Monday September, 5th, to buy into a Floating Liquefied Natural Gas-FLNG vessel, yet to be FID’d and constructed. The financial terms were not released, but this certainly involves a major cash commitment from Devon. In what amounts to a delayed reaction, in the absence of other
World Oil (Bloomberg) — Shale drillers Diamondback Energy Inc., Devon Energy Corp. and Coterra Energy Inc. are boosting dividends while keeping oil output flat despite pleas from President Joe Biden to increase supplies and help take some the edge off of inflation. Diamondback announced a five-fold bump to quarterly payouts on Monday while Devon pledged to lift its dividend by
World Oil (Bloomberg) — President Joe Biden’s ban on Russian oil imports puts new pressure on U.S. drillers to help fill a supply shortfall that has sent crude prices to the highest levels since 2008. Among them: EOG Resources Inc. and Devon Energy Corp., two shale giants that are sitting on thousands of federal drilling permits, many of which could be used to produce
World Oil (Bloomberg) — The Texas wildcatters that ushered in America’s shale revolution are resisting the temptation to pump more oil as the market rallies, signaling higher gasoline prices for consumers already battered by the worst inflation in a generation. Crude prices hurtling toward $100 a barrel typically would spark a frenzy of new drilling by independent explorers in shale fields from the desert
Reuters The latest business combination in the U.S. shale patch is signaling a path forward for the troubled sector. In contrast to the bankruptcies of the past three months, Devon Energy DVN.N‘s $2.56 billion all-stock, low premium deal for rival WPX Energy WPX.N brings together two companies with assets in a few oil-producing basins and relatively low debt levels. Investors supported the idea
By Tyler Losier, Energy Reporter, Oil & Gas 360 The staggering size of Aramco: Saudi Arabia’s state-owned oil company In 1933, the government of Saudi Arabia signed a concession agreement with the Standard Oil Company of California, creating an entity known as the California Arabian Standard Oil Company. Two years later, drilling began, and in 1938, famed geologist Max Steineke
By Bevo Beaven, Editor, Oil & Gas 360 Devon Energy Corp. (stock ticker: DVN) has completed the sale of its Canadian business segment to Canadian Natural Resources (stock ticker: CNQ) for CAD $3.8 billion, or US $2.8 billion. Devon secured net proceeds from the deal of US $2.5 billion. The company said it plans to repatriate the net sales proceeds
Canadian heavy oil, Barnett assets go on the block – could be sale or spinoff By Richard Rostad, analyst, Oil & Gas 360 Devon Energy (ticker: DVN) announced Q4 results and reserves today, showing net earnings of $1.1 billion, or $2.48 per share. This result vastly exceeds the $183 million Devon earned in Q4 2017, and Devon’s full-year results show
Devon sees STACK as its second-highest funded asset in 2019 PRB is the “best emerging growth opportunity in North America” Oklahoma-based Devon Energy Corporation (ticker: DVN) reported its Q3 2018 results Tuesday. On the call, Devon President and CEO Dave Hager gave good insight into the company’s STACK developments in Oklahoma. “Beyond the Delaware, the STACK and Rockies will also
Devon Energy Provides Operational Update for Jackfish Complex; Announces Third-Quarter Production and Capital Results
Carrizo places deal at $13,000 per net acre Houston’s Carrizo Oil & Gas, Inc. (Nasdaq: CRZO) said Tuesday it will acquire Delaware Basin properties from Devon Energy Corporation (NYSE: DVN) for $215 million in cash. Carrizo said it will fund the purchase with net proceeds from an equity offering. The underwritten public offering of 9,500,000 shares of common stock was priced
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