Devon Energy Sells Canadian Assets

Thursday, May 30th 2019, 10:12 am
By: News On 6

Oklahoma based Devon Energy is selling off all its assets in Canada in a deal worth 2.8 billion dollars.

Devon says the deal with Canadian Natural Resources will help with the company's debt.

It's also planning to focus on growth from wells drilled in American shale oil fields.

The deal is expected to close by the end of June.

Meanwhile, Devon also announced it's opening a new office in Southeast New Mexico as it grows its operations in the booming oil and gas region there.