One-Page Deal Sheet
Sinopec Partners With Devon Energy On Multiple Unconventional Plays
Sinopec Devon Energy Corp
Announced Date
January 03,2012
Close Date
January 03,2012
Transaction Type
JV
Enterprise Value (EV)($MM)
2200
Asset/Basin:
{"Tuscaloosa Marine Shale",Niobrara,Mississippian,"Utica Shale","Michigan Basin","Powder River Basin (Niobrara)"}
TargetZones:
{"Tuscaloosa Marine
Net Acres
Location
Calculated Metrics( EV/Category)
Region
Mid-Continent,Northeast,Rockies - Powder River Basin
Country
United States
State
Alabama
Play
Calculated Metrics( EV/Category)
$/ Acre
Transaction Details: Subscribe to see
Devon Energy Corporation announced it has signed an agreement with Sinopec International Petroleum Exploration & Production Corporation (SIPC) whereby SIPC will invest $2.2 billion in exchange for one-third of Devon’s interest in five new venture plays. Prior to this transaction, Devon had assembled 1.2 million net acres in the company’s previously announced positions in the Tuscaloosa Marine Shale, Niobrara, Mississippian, Ohio Utica Shale and the Michigan Basin. The companies have recently added acreage in the Ohio Utica Shale, increasing their joint position in the play to 235,000 net…
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