Devon Energy Corp : * Press release - Devon Energy announces acquisition of Eagle Ford assets from geosouthern energy * Says deal valued at $6 billion * Says deal includes current production of 53,000 barrels of oil equivalent perday * Says deal immediately accretive to cash flow per debt-adjusted share * Says deal includes 82,000 net acres with at least 1,200 undrilled locations * Says acquisition will be funded with a combination of cash on hand andborrowings * Says expects to repay the borrowings with free cash flow and proceeds fromthe monetization of non-core assets * Development drilling program is immediately self-funding, expected to
Devon Energy Corporation (Devon) is an independent energy company engaged primarily in the exploration, development and production of oil, natural gas and natural gas liquids (NGLs). Shares of DVN remained unchanged at $62.77. In the past year, the shares have traded as low as $50.81 and as high as $66.92. On average, 3093980 shares of DVN exchange hands on a given day and today's volume is recorded at 326608.
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