Devon Energy Completes Acquisition Of Williston Basin Bolt-On

Jul 21, 2022•almost 3 years ago

Acquiring Company

Devon Energy Corporation

Acquired Company

Williston Basin Bolt-On

Oklahoma CityOil And Gas

Description

Devon Energy Corp. (NYSE: DVN) today announced that it has completed its previously announced acquisition of the leasehold interest and related assets of RimRock Oil and Gas, LP in the Williston Basin for a total cash consideration of $865 million, less purchase price adjustments.

Company Information

Company

Devon Energy Corporation

Location

West Sheridan Avenue

Oklahoma City, Oklahoma, United States

About

Devon Energy is a leading oil and gas producer in the U.S. with a premier multi-basin portfolio headlined by a world-class acreage position in the Delaware Basin. Devon’s disciplined cash-return business model is designed to achieve strong returns, generate free cash flow and return capital to shareholders, while focusing on safe and sustainable operations.

M&A Insights

Based on deal data

Integration timeline

70% of M&A integrations take 12-24 months to complete

Tech stack consolidation

83% of merged companies consolidate technology vendors within first year

Post-acquisition investment

Companies increase IT spending by 23% on average after acquisitions

Success factor

M&A deals with strong technology integration plans are 2.5x more likely to succeed

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Devon Energy Completes Acquisition Of Williston Basin Bolt-On

Description

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Company Information