Deal insight

Devon Energy acquires STACK and Powder River Basin assets for US$2.5 billion

This report is currently unavailable

Further information

Contact us

Submit your details to receive further information about this report.

  • An error has occurred while getting captcha image
For details on how your data is used and stored, see our Privacy Notice.
 

Report summary

Devon will acquire 80,000 net surface acres in the STACK tight-oil play of the Anadarko Basin from Felix Energy for US$1.9 billion, and 253,000 net acres in the Powder River Basin (PRB) from an undisclosed seller for US$600 million. Our valuation, which ignores exploration upside outside of the core commercial zones, suggests Devon paid a net 5% premium across the two deals.

What's included

This report contains

  • Document

    Devon Energy acquires STACK and Powder River Basin assets for US$2.5 billion

    PDF 657.50 KB

Table of contents

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

Tables and charts

This report includes 15 images and tables including:

Images

  • Devon will expand its STACK footprint further north into the updip portion of the Meramec
  • Devon Energy expands its footprint south in the Powder River Basin
  • Benchmarking: WM new project returns vs. capital expenditures for Focused US peer group
  • WM net-debt outlook for Devon under various scenarios

Tables

  • Executive summary: Table 1
  • Executive summary: Table 2
  • Upstream assets: Table 1
  • Deal analysis: Table 1
  • Deal analysis: Table 2
  • Deal analysis: Table 3
  • Deal analysis: Table 4
  • Deal analysis: Table 5
  • Deal analysis: Table 6
  • Oil & gas pricing and assumptions: Table 1
  • Oil & gas pricing and assumptions: Table 2

Questions about this report?

    • Europe:
      +44 131 243 4699
    • Americas:
      +1 713 470 1900
    • Asia Pacific:
      +61 2 8224 8898