Devon Energy To Acquire Bakken Driller Grayson Mill In $5B Deal

Independent oil & gas company Devon Energy (NYSE:DVN) has announced plans to acquire Grayson Mill Energy's Williston Basin business in a cash and stock deal valued at ~$5B, consisting of $3.25B of cash and $1.75B of stock. According to the Oklahoma-based shale producer, the purchase will add 307K net acres (70% working interest) to its portfolio, significantly expanding its position in the Williston Basin. Production from the acquired properties is expected to be maintained at ~100K boe/day (55% oil) in 2025. With enhanced…