Email
Print 
Bookmark
Reuters is reporting that Devon is in talks to acquire WPX Energy. This deal would see Devon's leverage go from 0.8x to 1.7x based on TTM (Trailing Twelve Month) Net Debt/ EBITDA The transaction would also pivot the company into the top 5 shale oil players.
There isn't much overlap in acreage between the two company's Delaware Basin Permian land positons.
This deal would also see Devon expanding into another basin, (Bakken) as if the company is not already spread across enough basins (Delaware, Powder River, Anadarko Basin) currently.
Combined/ Proforma
- Net Debt : $6.2 billion
- Production Equivalent : 532 Mboe/d
- Production OIl : 276.7 Mbl/d
- Leverage : Net Debt/ EBITDA (TTM) : 1.7x
- Rig Count (9/11/2020) = 14
- Basins : Bakken, Delaware Permian, STACK, Powder River Basin
Permian Map.
Leverage.
U.S. Oil Production (public Upstream)
Devon's portfolio.
- Powder River Basin
- Anadarko Basin (STACK)
- Eagle Ford
- Delaware Basin
As of Q2
Net Debt : $3.0 billion.
Reseves (YE-2019) :
Production (2Q20) : 325 Mboe/d
WPX Portfolio.
- Williston Basin
- Permian Basin/ Delaware
Production : 207 Mboe/d (59% oil)
Net Debt (as of 2Q) : $3.2 billion
| Category | 2023 | 2024Est. Initial | Updated 2024 Guidance | %Difference (2023 vs 2024) |
| Total Capital Expenditure($mm) |
|
|
|
|
| Production Daily Equivalent(boe/d) |
|
|
|
|
| Production Oil(bbls/d) |
|
|
|
|
Recent Deals/Transactions
| Date Annouced | Category | Headline | Buyer(s) | Seller(s) | Value ($mm) |
|---|---|---|---|---|---|
| 02/12/2024 | E&P | Diamondback To Acquire Endeavor Energy In $26 Billion Transaction |
|
|
|
| 02/07/2024 | E&P | California Resources To Acquire Aera Energy For $2.1 Billion |
|
|
|
| 01/15/2024 | E&P | Talos Acquires QuarterNorth Energy For $1.2 Billion |
|
|
|
| 01/11/2024 | E&P | Chesapeake To Acquire Southwestern Energy |
|
|
|
| 01/11/2024 | E&P | Prairie Operating Bolt-On DJ Basin Assets From Nickel Road |
|
|
|
| 01/04/2024 | E&P | APA Corp to Acquire Permian Pure Player- Callon In All Stock Deal |
|
|
|
| 12/15/2023 | E&P | TG Natural Resources To Acquire backed-Rockcliff Energy II For $2.7 Billion |
|
|
|
| 12/15/2023 | E&P | Fury Resources Takes Battalion Private In Transaction Worth $450 Million : Map |
|
|
|
| 12/11/2023 | E&P | Oxy Acquires Midland Basin Juggernaut For $12 Billion |
|
|
|
| 11/21/2023 | E&P | Northern Oil Acquires Additional Permian Working Interest; Enters Utica |
|
|
|
| Total |
|