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Devon Energy to divest nearly $1 bln assets

Published 2016-06-06, 06:17 a/m
© Reuters. Devon Energy to divest nearly $1 bln assets
DVN
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June 6 (Reuters) - Oil and natural gas producer Devon Energy (NYSE:DVN)
Corp DVN.N said it would sell nearly $1 billion of producing
assets in Texas and certain royalty interest as part of its
divestiture program to improve its finances.
Devon said on Monday it would sell assets in east Texas for
$525 million and assets in Anadarko Basin's Granite Wash area
for $310 million.
The company will sell its royalty interest in the northern
Midland Basin for $139 million.
The company said it was also in advanced talks to sell its
50 percent interest in the Access Pipeline in Canada and an
announcement was expected within the next several weeks.

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