One-Page Deal Sheet
Devon To Acquired PE-Backed Grayson Mill For $5 Billion
Devon Energy Corp Grayson Mill Energy
Announced Date
July 08,2024
Effective Date
June 01,2024
Close Date
September 27,2024
Transaction Type
Asset
Enterprise Value (EV)($MM)
5000
Asset/Basin:
["Williston Basin"]
TargetZones:
["Bakken Shale", "Th
Net Acres
% Oil:
Location
Calculated Metrics( EV/Category)
Country
United States
State
North Dakota
Play
Production Production
Production Mix
Calculated Metrics( EV/Category)
$/ Flowing
$/ Acre
$/Location
Transaction Details: Require Private Equity Subscription
Devon Energy said today it will acquire Encap-backed, Williston Basin focused Grayson Mill Energy in a transaction valued at $5 billion, consisting of $3.25 billion of cash and $1.75 billion of stock to the sellers.
Grayson Mill initially spent $900 million to acquire its core position from Equinor back in 2021. Then in April 2023 Grayson Mill spent another $850 million to add Ovintiv's Willison Basin asset to it's existing position.
About the Asset.
Land : 307,000 net acres (70% WI)
Production : 100Mboe/d (55% oil)
Inventory : 500 Gross
Midstream Assets : 950 miles of gathering systems…
| Date | Deal Headline | Price | $/acre |
|---|---|---|---|
| Nov-03-2025 | Viper Energy Divests Non-Permian Mineral & Royalty Portfolio to Warwick Capital and GRP Energy for $617MM | -  |
- |
| Feb-21-2024 | Chord Energy and Enerplus to Combine in $11 Billion Transaction Creating Premier Williston-Focused E&P Company | - |
- |
| Apr-03-2023 | Grayson Mill Adds More Bakken, Acquires Ovintiv's Assets For $825 Million | - |
- |