U.S. News HOUSTON – U.S. oil and gas patch deals continued to run hot in the second quarter, topping $30 billion with big dollar tie-ups pushing values higher, according to data released on Tuesday by energy researcher Enverus. Blockbuster mergers, such as ConocoPhillips’ $22.5 billion offer for Marathon Oil, remain a mainstay even as U.S. lawmakers call on regulators to
Oil and Gas 360 OKLAHOMA CITY, July 08, 2024 (GLOBE NEWSWIRE) — Devon Energy (NYSE: DVN) announced today it has entered into a definitive purchase agreement to acquire the Williston Basin business of Grayson Mill Energy in a transaction valued at $5 billion, consisting of $3.25 billion of cash and $1.75 billion of stock to the sellers. The transaction is
World Oil (Bloomberg) – Devon Energy Corp., an Oklahoma City-based oil and gas company, is in talks to acquire Calgary-based driller Enerplus Corp., Reuters reported. The companies have not come to an agreement, Reuters said, citing anonymous sources. It comes on the heels of a string of recent megadeals in the U.S. oil patch as companies push to line up
World Oil (Bloomberg) – Devon Energy Corp., an Oklahoma City-based oil and gas company, is studying major acquisition targets as it seeks to gain scale in U.S. shale, according to people familiar with the matter. Devon has held preliminary talks in recent months about a combination with Marathon Oil Corp., said the people, who asked to not be identified because
Oil and Gas 360 OKLAHOMA CITY, June 08, 2022 (GLOBE NEWSWIRE) — Devon Energy Corp. (NYSE: DVN) announced today it has entered into a definitive purchase agreement to acquire the leasehold interest and related assets of RimRock Oil and Gas, LP, a Warburg Pincus portfolio company, in the Williston Basin for total cash consideration of $865 million. The transaction is
World Oil (Bloomberg) — Devon Energy Corp., one of the biggest oil explorers in the Permian Basin, is getting into the sand business to combat rising costs. The Oklahoma City-based company told investors of a new, so-called mobile frack-sand mine it launched on 15,000 acres of land it owns in the West Texas county of Loving. The mine is expected to save
Reuters Publisher’s Note: Northern Oil and Gas, Inc. was a presenter at EnerCom’s The Oil & Gas Conference, view their replay at 1:00pm MST. U.S. energy producers have cut so deeply into a once-large reserve of oil wells waiting to be turned on they soon may have to resume drilling to keep production from sagging, executives and analysts said. This
Reuters U.S. shale producers Pioneer Natural Resources and Devon Energy Corp beat Wall Street expectations for first-quarter profits on Tuesday, as COVID-19 vaccine rollouts and easing travel restrictions lifted crude prices. U.S. energy companies have delivered strong profits this year on a rebound in oil prices and deep cost cuts implemented in 2020 at the peak of the pandemic-driven downturn
Oil and Gas 360 Devon Energy Corporation (“Devon”) (NYSE: DVN) and WPX Energy, Inc. (“WPX”) (NYSE: WPX) today announced the successful completion of their previously announced all-stock merger of equals, creating a leading energy producer in the U.S., with an asset base underpinned by a premium acreage position in the economic core of the Delaware Basin. The combined company will
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
OKLAHOMA CITY, March 19, 2020 (GLOBE NEWSWIRE) — Devon Energy Corp. (NYSE: DVN) today provided an update regarding its oil and natural gas hedge position. The company has approximately 80 percent of its estimated oil production in 2020 protected at an average floor price of nearly $45 WTI. Additionally, Devon has secured hedges on approximately 40 percent of its estimated
Reuters U.S. oil and gas producer Devon Energy Corp on Thursday cut its 2020 spending forecast by $500 million or nearly 30% to about $1.3 billion, joining its shale peers as the industry battles a slump in crude prices. Shale producers, including Occidental Corp and Diamondback Energy Inc, have tightened belt after a price war between Saudi Arabia and Russia
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