One-Page Deal Sheet
Devon Sells Producing Midland Basin Position for $423 Million
FDL Operating LLC Devon Energy Corp
Announced Date
June 15,2016
Transaction Type
Property
Enterprise Value (EV)($MM)
423
Location
Calculated Metrics( EV/Category)
Region
Permian
Country
United States
State
Texas
Play
Production & Reserves Production
Production Mix
Reserves
Calculated Metrics( EV/Category)
$/ Flowing
Transaction Details: Subscribe to see
Devon Energy Corp. has entered into an agreement to sell its assets in the southern Midland Basin for $423 million. Current production from these assets is approximately 22,000 Boe per day, of which 33 percent was oil to FDL Operating.
At Dec. 31, 2015, proved reserves associated with these properties totaled 43 million Boe. Field-level cash flow accompanying these assets, which excludes overhead costs, amounted to $13 million in the first quarter of 2016.
The Company expects to incur minimal taxes associated with these divestitures. These transactions are subject to customary terms and…
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