Deal insight

Devon acquires core Eagle Ford assets with US$6 billion acquisition from GeoSouthern Energy

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Report summary

Devon has made a bold move in buying a sizeable position in the core of the Eagle Ford from Blackstone backed GeoSouthern Resources for a cash consideration of US$6 billion. Globally this is the largest deal of 2013 and it is the biggest ever deal involving only US tight oil assets surpassing Statoil's US$4.7 billion acquisition of Bakken focused Brigham Exploration in 2011. Devon will acquire 53 000 boe/d (76% liquids) and 82 000 net acres located in DeWitt and Lavaca counties. ...

What's included

This report contains

  • Document

    Devon acquires core Eagle Ford assets with US$6 billion acquisition from GeoSouthern Energy

    PDF 1.47 MB

Table of contents

  • Executive summary
  • Transaction details
  • Upstream assets
  • Deal analysis
  • Upsides & risks
  • Strategic rationale
  • Oil & gas pricing and assumptions

Tables and charts

This report includes 12 images and tables including:

Images

  • Acquired assets and GeoSouthern and BHP Billiton-operated wells
  • Top 10 average IP rates by well operator: Karnes Trough (left), Edwards Condensate (right)
  • Lateral length versus drilling speed: wells since start-2012 in Karnes Trough and Edwards Condensate
  • Remaining value sensitivity to hydrocarbon price
  • Devon portfolio including Eagle Ford acquisition

Tables

  • Executive summary: Table 1
  • Upstream assets: Table 1
  • Oil & gas pricing and assumptions: Table 1
  • Oil & gas pricing and assumptions: Table 2
  • Deal analysis: Table 1
  • Deal analysis: Table 2
  • Deal analysis: Table 3

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