Devon Energy Announces C$3.125 Billion Sale of Canadian Conventional Assets
Download
Upon close of the transaction, the company plans to immediately
repatriate the proceeds to the U.S. for use in the repayment of debt
incurred to finance its Eagle Ford acquisition. The company expects net
proceeds of
“This agreement represents a significant step forward in the execution
of our non-core divestiture process,” said
The divestiture process is ongoing for the company’s remaining non-core properties in the U.S. Devon expects to complete these U.S. divestitures by year end.
Advisors
Scotia Waterous acted as lead financial advisor to Devon on the
transaction.
Source:
Devon Energy Corporation
Investor Contacts
Scott Coody,
405-552-4735
or
Shea Snyder, 405-552-4782
or
Media
Contact
Chip Minty, 405-228-8647