US upstream independent Devon Energy has returned to acquisitions to boost its liquids output as it seeks to compensate for weak domestic gas prices and to stave off declining production. The firm this month agreed to pay $6bn to buy Eagle Ford assets in south Texas from domestic counterpart Geo-Southern Energy (WPA, 22 November, p9). Devon is buying 53,000 b/d of oil equivalent (boe/d) on 82,000 net acres (328km2) in the formation, with recover-able resources estimated at 400mn boe, the majority of which is proven reserves.
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