One-Page Deal Sheet
Devon Acquires Williston Assets from PE-Backed E&P in $865 Million Cash Deal
Devon Energy Corp RimRock Oil & Gas
Announced Date
June 08,2022
Effective Date
April 01,2022
Close Date
July 21,2022
Transaction Type
Property
Enterprise Value (EV)($MM)
865
Asset/Basin:
["Williston Basin"]
TargetZones:
["Bakken", "Three Fo
Net Acres
% Oil:
Location
Calculated Metrics( EV/Category)
Region
Williston Basin
Country
United States
State
North Dakota
County
Dunn
Play
Production Production
Production Mix
Calculated Metrics( EV/Category)
$/ Flowing
$/ Acre
$/Location
Transaction Details: Require Private Equity Subscription
Devon Energy Corp. has agreed to acquire Williston Basin assets from RimRock Oil and Gas LP for total cash consideration of $865 million.
This deal closed on July 21, 2022.
RimRock is backed by Warburg Pincus.
The transaction is expected to close in the third quarter of 2022, with an effective date of April 1, 2022.
Deal Details: Acreage: 38,000 net acres in Dunn County, North Dakota (88% working interest) Drilling Locations: 100+ Production: 15,000 BOEPD (78% oil)Production volumes expected to increase to an average of 20,000 Boe per day over the next year. Devon estimates…
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