Devon Energy Monetizes Non-Core Midland Assets for $858 Million; Increasing 2016 Capital Program $200 Million; Raising 2016 Production Outlook

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Go back to Devon Energy Monetizes Non-Core Midland Assets for $858 Million; Increasing 2016 Capital Program $200 Million; Raising 2016 Production Outlook

UBS Raises price Target as Devon Energy (DVN) Announces Midland Sales

June 16, 2016 7:56 AM EDT

UBS 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