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Monday, June 30, 2014

Devon to sell oil and gas assets to Linn Energy for $2.3 bln, (NYSE: DVN)

Devon Energy Corp said it would sell all of its non-core U.S. oil and gas properties to Linn Energy for $2.3 billion. The deal includes properties in the Rockies, onshore Gulf Coast, and Mid-Continent regions, which produces 275 million cubic feet of gas equivalent per day, the company said.

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 traded higher by 0.13% or $0.1/share to $79.60. In the past year, the shares have traded as low as $52.00 and as high as $79.58. On average, 3387610 shares of DVN exchange hands on a given day and today's volume is recorded at 80306.