Devon Energy Acquires Validus Energy for $1.8 Billion
June 1, 2022
Devon Energy Corp. agreed to acquire Eagle Ford operator Validus Energy for $1.8 billion in cash, in a transaction expected to close at the end of Q3 2022 with an effective date of June 1, 2022. The acquisition adds ~42,000 net acres and ~35,000 boe/d of production (projected to average ~40,000 boe/d), deepening Devon's Eagle Ford footprint and driving scale, operational synergies and improved cash returns to shareholders.
- Buyers
- Devon Energy Corp.
- Targets
- Validus Energy
- Industry
- Oil & Gas
- Location
- Colorado, United States
- Transaction Type
- Buyout
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