United States $29 Billion Oil Company Devon Energy to Buy Williston Basin Assets from Grayson Mill Energy for $5 Billion with $3.25 Billion in Cash & $1.75 Billion by Issuing New Shares, Grayson Mill Energy is Owned by Private Equity Group EnCap
11th July 2024 | Hong Kong
United States oil company Devon Energy (10/7/24: $29 billion market value) has announced to buy Williston Basin assets from Grayson Mill Energy for $5 billion with $3.25 billion in cash & $1.75 billion by issuing new shares. Grayson Mill Energy is owned by private equity group EnCap. Announcement (8/7/24): “Devon Energy (NYSE: DVN) announced today it has entered into a definitive purchase agreement to acquire the Williston Basin business of Grayson Mill Energy in a transaction valued at $5 billion, consisting of $3.25 billion of cash and $1.75 billion of stock to the sellers. The transaction is subject to customary terms and conditions, including various purchase price adjustments, and is expected to close by the end of the third quarter of 2024, with an effective date of June 1, 2024 … … The transaction is immediately accretive to Devon’s key per-share financial measures, including earnings, cash flow, free cash flow and net asset value. The assets were acquired at less than 4-times EBITDAX, with an estimated free cash flow yield of 15 percent at an $80 WTI oil price.” Devon Energy – 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.
“ United States $29 Billion Oil Company Devon Energy to Buy Williston Basin Assets from Grayson Mill Energy for $5 Billion with $3.25 Billion in Cash & $1.75 Billion by Issuing New Shares, Grayson Mill Energy is Owned by Private Equity Group EnCap “
Devon Energy – 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.
United States $29 Billion Oil Company Devon Energy to Buy Williston Basin Assets from Grayson Mill Energy for $5 Billion with $3.25 Billion in Cash & $1.75 Billion by Issuing New Shares, Grayson Mill Energy is Owned by Private Equity Group EnCap
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