Devon Pays $6B for Eagleford Shale Reserves Back to Blog

Nov 21


  • Created: Mon 7th Jan 2013
  • Erin

Devon Energy Corp. has just announced it will pay $6 Billion for a Woodlands-based company’s assets in the Eagle Ford oil play, the largest such deal of the year.  Oklahoma City-based Devon will acquire 82,000 net acres in DeWitt and Lavaca counties from GeoSouthern Energy. The acreage, which is largely contiguous, currently produces 53,000 barrels of oil equivalent per day and includes at least 1,200 undrilled locations.  Devon expects to grow production substantially, eventually reaching peak production of 140,000 BOE per day.


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