Devon Energy Corp.is scaling up in the Eagle Ford Shale with a $ 1.8 billion cash deal to buy privately held Validus Energy,the company announced on Aug.9.Validus is a pure play with a position that includes 42,000 net acres in the core of the Karnes County oil window in South Texas with average production of 35,000 boe/d.The acreage is adjacent to Devon's existing leasehold in the Eagle Ford Shale.The addition of Validus almost doubles Devon's current Eagle Ford footprint.The company's pro forma position of 82,000 net acres will produce an estimated 73,000 boe/d this year-well above the 38,000 boe/d that Devon recently reported for the basin during the second quarter."Color us a bit surprised,"said Tudor Pickering,Holt & Co.analyst Matt Portillo in a note to investors.
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