16 September 2016
Energy Company of the Year - mid cap, 2016: Devon Energy
A stock market darling during many periods this year, Devon Energy has divested a number of non-core assets in order to create a healthy outlook for the months and years ahead. Strategically, the company has put itself in a very strong position. In terms of acquisitions, in late 2015 the group paid $1.9bn to acquire 80,000 net surface acres – with up to ten prospective zones – in the Anadarko Basin STACK play, acquiring the interest from privately-held Felix Energy, a portfolio company of EnCap Investments. The transaction strengthened Devon Energy’s position in the region to an industry-leading 430,000 acres. At around the same time, the company also agreed to acquire 253,000 net acres in t
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