Sumitomo has entered into an agreement with Devon Energy to acquire a 30% working interest in Devon's Wolfcamp and Cline shale acreage in the Permian Basin. The nominal consideration of the deal is US$1.365 billion, making this the largest transaction in the emerging Wolfcamp Shale to date.The Permian has always been a major oil producing Basin in the US, and as such, it has become the focus of operators as they abandon gas plays in a frantic flight to oil. The emerging Wolfcamp and ...
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Sumitomo acquires a 30% interest in Devon Energy's Cline Shale and Wolfcamp Shale assets PDF - 1.08 MB 8 Pages, 5 Tables, 2 Figures
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Deal insight | Aug 2012
Sumitomo acquires a 30% interest in Devon Energy's Cline Shale and Wolfcamp Shale assets
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