Devon Energy Corp struck a deal to purchase privately held GeoSouthern Energy's assets in the Eagle Ford shale region of south Texas for $6 billion in cash. The company said on Wednesday that the assets it is picking up in the deal have current production of 53,000 barrels of oil equivalent (BOE) per day over 82,000 net acres.
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 331906.
Source
