Deal Insight
Devon acquires Eagle Ford operator Validus for US$1.8 billion
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Validus Energy, backed by Pontem Energy Capital, agreed to sell its Eagle Ford assets to Devon Energy for US$1.8 billion. The transaction includes 42,000 net acres with just over 500 net producing wells and 35,000 boe/d (70% oil) of flowing production in Karnes County. This is Devon's second all cash acquisition this year following its Williston Basin purchase from RimRock in June. Both deals help bolster Devon's mature acreage positions and allow the company to use excess cash for inorganic growth without increasing development expenditure. This deal also makes Devon a top player in every major L48 unconventional oil region creating a premier diversified operator.
Table of contents
- Executive summary
- Transaction details
- Upstream assets
- Deal analysis
- Upsides and risks
- Strategic rationale
- Oil & gas pricing and assumptions
Tables and charts
This report includes the following images and tables:
- Executive summary: Table 1
- Devon and Validus Eagle Ford acreage
- Upstream assets: Table 1
- Deal analysis: Table 1
- Deal analysis: Table 2
- Deal analysis: Table 3
- Oil & gas pricing and assumptions: Table 1
- Oil & gas pricing and assumptions: Table 2
What's included
This report contains:
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