Devon Energy completes $1.4B Wolfcamp JV

摘要

Houston-based Devon Energy Corp. (NYSE: DVN) closed its previously announced $1.4-billion joint-venture agreement with Sumitomo Corp. The joint venture covers approximately 650,000 net acres in the Cline shale and the Midland-Wolfcamp shale in the Permian Basin. Sumitomo will invest $1.4 billion in exchange for 30% of Devon's interest in these projects.