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Stock Market & Financial Investment News

News Breaks
June 30, 2014
10:17 EDTLINE, DVNDevon Energy asset sale price beat expectations, says Wells Fargo
Wells Fargo said Devon Energy's (DVN) sale of its remaining non-core U.S. assets to LINN Energy (LINE) for $1.8B after tax beat the firm's conservative $1.1B estimate and topped the Street view that the deal would fetch $1.2B-$1.4B. Wells, which adds that the deal should be completed sooner than expected as well, keeps its Outperform rating on Devon Energy.
News For DVN;LINE From The Last 14 Days
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April 1, 2015
17:07 EDTDVNEnLink Midstream sees VEX acquisition immediately accretive
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March 30, 2015
07:16 EDTDVNDevon Energy price target raised to $80 from $75 at Credit Suisse
Credit Suisse raised Devon's price target to $80 to reflect the updated reserve report. The firm reiterates its Outperform rating and sees catalysts from the drop down in of the Access Pipeline to EnLink and the delineation drilling in Lavaca County.
05:53 EDTLINELINN Energy downgraded to Sell from Neutral at UBS
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05:52 EDTLINELinnCo downgraded to Sell from Neutral at UBS
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March 26, 2015
10:30 EDTLINEOptions with decreasing implied volatility
Options with decreasing implied volatility: ASPS WLL WBAI CTRP FIVE LINE DRC RHT LULU APOL
March 24, 2015
06:49 EDTLINELINN Energy signs $1B letter of intent with Quantum Energy Partners
LINN Energy (LINE) and LinnCo (LNCO) announced that LINN has signed a non-binding letter of intent with private capital investor Quantum Energy Partners to fund selected future oil and natural gas acquisitions and development on those acquired assets. Subject to final documentation, Quantum has agreed to initially commit up to $1B of equity capital to fund acquisitions and development of oil and natural gas assets. LINN will have the ability to participate in all acquisition opportunities with a direct working interest ranging from 15% to 50%. AcqCo assets will be managed by LINN in exchange for a reimbursement of general and administrative expenses. Additionally, after certain investor return hurdles are met, LINN will have the ability to earn a promoted interest in AcqCo. Upon the sale of any assets within AcqCo, LINN will be given right of first offer to acquire those assets.
March 23, 2015
18:08 EDTDVNEnLink Midstream to acquire Victoria Express assets from Devon Energy
EnLink Midstream Partners (ENLK) announced that it has entered into an agreement to acquire the Victoria Express Pipeline and related truck terminal and storage assets from Devon Energy Corporation (DVN). Total consideration for the transaction is approximately $210M-$220M, including approximately $171M in cash, approximately 338,000 of the Partnership’s common units and EnLink’s assumption of approximately $30M-$40M in certain construction costs to expand the system to full capacity, subject to adjustments. The transaction, which is expected to close on or about April 1, subject to the satisfaction of certain conditions, is expected to be immediately accretive to the Partnership.

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