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>> THE NEW YORK TIMES Latest News

NOV 20, 2013 - TheStreet

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[video] The Deal: Devon Energy $6B Asset Buy a Big Win for Blackstone

NEW YORK (The Deal) -- Oklahoma City oil and gas explorer Devon Energy said Wednesday, Nov. 20, it agreed to buy oil properties in South Texas' Eagle Ford Shale from Blackstone Group -backed GeoSouthern Energy for $6 billion in cash, giving it a high growth area it had been lacking. Devon plans to fund the purchase with cash on hand and borrowings, which it expects to repay with free cash flow and proceeds from the sale of non-core assets. On a conference call with analysts and investors, management said assets up for sale could include Canadian conventional assets as well as non-core U.S. ... Read More

Tags: [video] The Deal: Devon Energy $6B Asset Buy a Big Win for Blackstone,  The New York Times Latest News