Top Story | Deals - Acquisition, Mergers, Divestitures
Devon Wraps Up $865MM Williston Basin Bolt-On Acquisition
Email
Print 
Bookmark
Devon Energy Corp. has completed its previously announced acquisition of the leasehold interest and related assets of RimRock Oil and Gas, LP in the Williston Basin for a total cash consideration of $865 million, less purchase price adjustments.
This acquisition adds a contiguous position of 38,000 net acres (88% working interest) directly offsetting and overlapping Devon's existing position. Production from the acquired assets is expected to increase to an average of 20,000 Boe per day over the next year. The tra
nsaction also adds more than 100 highly economic undrilled inventory locations, positioning the company's Williston Basin assets to maintain high-margin production and strong cash flow for several years.
| Category | 2022 | 2023Est. Initial | Updated 2023 Guidance | %Difference (2022 vs 2023) |
| Total Capital Expenditure($mm) |
|
|
|
|
Related Categories :
Deals - Deal Close
More Deals - Deal Close News
-
Ring Energy Finalizes Acquisition of Stronghold Energy II
-
Centennial, Colgate Finalize $3.9B Merger; Debut as Permian Resources Corp.
-
Diamondback Seals Rattler Midstream Deal; Takes Company Private
-
Riverbend Finalizes $1.8B Sale of Portfolio Companies
-
Northern Oil Closes $158MM Bolt-On Deal for Williston Assets
Rockies News >>>
-
A Look at Capital Spending By Company In First Half 2023; Budget Exhausion?
-
What to Expect From Frac Activity in 2H'23 & 2024 -
-
Top Drilling Contractors Talk 2H '23 and 2024 -
-
Oil Report : Back Again, Same Story
-
Oil Report : Play Oil For a Bounce Here
4.jpg&new_width=60&new_height=60&imgsize=false)
