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Stock Market & Financial Investment News

News Breaks
January 30, 2013
13:59 EDTDVNScotia Waterous retained by Devon for Eastern Ohio asset sales
Scotia Waterous, the oil and gas arm of Scotiabank, said it has been retained by Devon Energy (DVN) to advise and assist in the sale of the company’s Utica Shale / Point Pleasant assets in Eastern Ohio. The Utica / Point Pleasant play is currently in the early stages of appraisal and development, Scotia Waterous said, adding that well results "are promising and there is growing confidence in the prospectivity of the play given very significant leasing and drilling activity." Bids are due on March 13.Reference Link
News For DVN From The Last 14 Days
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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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