Devon Makes Plans to Exit US Gulf, Sell Overseas Assets

摘要

Devon Energy has announced plans to sell all of its Gulf of Mexico and international assets in 2010 and reposition itself as a high-growth company focusing on onshore operations in the US and Canada. The asset sales are expected to bring in $4.5 billion to $7.5 billion, after taxes. Proceeds will be used to pay down debt and fund North American onshore projects with lower risk and higher rates of return.