Devon acquires 50,000 acres of Oklahoma shale

Devon acquires 50,000 acres of Oklahoma shale
Oklahoma City (UPI) May 7, 2013 - Devon Energy Corp. announced it acquired 50,000 acres of shale acreage in Oklahoma that holds an estimated 23 million barrels of oil equivalent. Devon, which has headquarters in Oklahoma City, said it purchased the acreage from rival Cimarex Energy for $249 million in cash. Devon Chief Operating Officer Dave Hager said the acreage in the Cana-Woodford shale is producing an averag ... more

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