One-Page Deal Sheet
LINN to Acquire Gas-Heavy Properties from Devon Energy
Linn Energy, Inc Devon Energy Corp
Announced Date
June 30,2014
Effective Date
April 01,2014
Close Date
August 29,2014
Transaction Type
Property
Enterprise Value (EV)($MM)
2300
Asset/Basin:
{Rockies,Mid-Continent,Ark-La-Tex}
Net Acres
Proved Reserves
Location
Region
Ark-La-Tex - East Texas,Ark-La-Tex,Rockies,Mid-Continent
Country
United States
State
North Dakota
Play
Production & Reserves Production
Reserves
Transaction Details: Subscribe to see
Devon Energy Corporation has entered into a definitive agreement to sell all of its non-core U.S. oil and gas properties to Linn Energy for $2.3 billion, or approximately $1.8 billion after tax.
The agreement covers Devon’s remaining assets targeted for divestiture and includes properties in the Rockies, onshore Gulf Coast, and Mid-Continent regions of the U.S.
John Richels, President and CEO of Devon, commented: "With the sale of our remaining non-core assets, the portfolio transformation that we announced late last year is now complete. In a short period of time we transformed our…
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