UPDATE: Devon Energy (DVN) Taps Jeffries to Sell non-Core Assets

(Updated - February 10, 2016 12:04 PM EST)

Devon Energy (NYSE: DVN) said to tap Jeffries to sell non-core assets, according to Reuters.

UPDATE - Sources said that Devon is looking to sell over $ billion in non-core assets across four major shale basins. The sales will help Devon to raise cash and slash debt.

Devon said in December it would move to sell some non-core assets. The company also said it would acquire some assets from Felix Energy LLC for $2.5 billion.

Amid today's news, Devon is down over 3 percent, eschewing the broader market move higher.

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