One-Page Deal Sheet
Devon Inks Deal for RKI's Powder River Basin Property
Devon Energy Corp Rki Exploration & Production, Llc
Announced Date
December 08,2015
Close Date
December 17,2015
Transaction Type
Property
Enterprise Value (EV)($MM)
600
Asset/Basin:
{"Powder River Basin"}
TargetZones:
{Parkman,Turner,Teap
Net Acres
% Oil:
Location
Calculated Metrics( EV/Category)
Region
Rockies - Powder River Basin
Country
United States
State
Wyoming
Play
Production Production
Calculated Metrics( EV/Category)
$/ Flowing
$/ Acre
$/Location
Transaction Details: Require Private Equity Subscription
Devon Energy Corp. has agreed to acquire 253,000 net acres in the Powder River Basin for $600 million from RKI Exploration.
The transactions will be funded with approximately $1.35 billion of Devon equity issued to sellers and approximately $1.15 billion of cash on hand and borrowings.
Enlarge Image
Previous RKI-Chesapeake Deal - Acreage Swap Achieving Scale in the Powder River BasinThe acquired Powder River Basin acreage is located to the south of Devon’s legacy position in Wyoming and includes production of 7,000 Boe per day, with approximately 85 percent oil. This leasehold resides in…
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