Devon Energy to Present at J.P. Morgan Inaugural Energy Equity Conference
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UBS Raises price Target as Devon Energy (DVN) Announces Midland Sales
June 16, 2016 7:56 AM EDTUBS maintained a Sell rating on Devon Energy (NYSE: DVN), and raised the price target to $30.00 (from $29.00), after the company announced that it has agreed to sell its working interest in N. Midland Basin. The sale will go to PXD for $435MM, and is expected to close in... More
Devon Energy (DVN) to Sell Remaining, non-Core Midland Basin Assets; Boosts FY16 Production Guidance
June 15, 2016 4:06 PM EDTDevon Energy Corp. (NYSE: DVN) announced it has entered definitive agreements to sell its remaining non-core assets in the Midland Basin for $858 million. These transactions include the Companys upstream assets in the southern Midland Basin and its undeveloped leasehold in Martin County, Texas. This brings total announced non-core transactions to $2.1 billion.
We are pleased to announce these highly accretive non-core divestitures, concluding our E&P sales process ahead of schedule, said Dave Hager, president and CEO. We anticipate our total non-core asset sales to be at or above the top end of our $2... More
