Devon Buys Felix Assets | Russell T. Rudy Energy LLC
Devon Energy is buying oil and gas assets from Felix Energy LLC in the Anadarko and Powder River Basins. The Anadarko Basin lies in West Oklahoma and the Texas Panhandle. Devon is buying 80,000 net surface acres for $1.9 billion.
Devon is also purchasing Powder River Basin assets in Wyoming located to the South of their existing acreage. This $600 million transaction with Felix includes 235,000 net acres and 7,000 barrels of oil equivalent per day which is about 85% oil and 15% gas.
In exchange for the properties, Felix will receive $1.35 billion of Devon stock and $1.15 billion of cash.
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