Scotia 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
Devon Energy upgraded to Accumulate from Neutral at Global Hunter Global Hunter upgraded Devon Energy to Accumulate based on Permian execution, favorable risk/reward, and the potential drop-down of its Canadian pipeline assets into its MLP. Price target lowered to $68 from $80 based on based on a lower commodity price outlook.