S&P Lowers Outlook on Devon Energy (DVN) to Negative; Ratings Affirmed

Devon Energy (DVN) PT Cut at UBS Despite Latest Deal

UBS reiterated a Sell rating on Devon Energy (NYSE: DVN), and cut the price target to $37.00 (from $40.00), despite the company's announced agreement to acquire 80k net acres in the STACK play from privately held Felix Energy for $1.9bn. DVN expects to spend ~$500MM in 2016 on its STACK position with a 10-rig program focused in the volatile oil window. As such,... More

EnLink Midstream Partners (ENLK) to Acquire Tall Oak Midstream in $1.55B Deal

The EnLink Midstream companies, EnLink Midstream Partners, LP (NYSE: ENLK) (the Partnership) and EnLink Midstream, LLC (NYSE: ENLC) (the General Partner) (together EnLink), announced that a subsidiary of the Partnership and the General Partner signed definitive agreements to acquire subsidiaries of Tall Oak Midstream, LLC for $1.55 billion, subject to certain adjustments. The purchase price will be paid in installments, with the first installment of $1.05 billion paid at closing and the final installment of $500 million paid no later than the first anniversary of the closing date with the option to defer $250... More

Devon Energy (DVN) Announces $2.5B Acquisition of Certain Assets

Devon Energy Corp. (NYSE: DVN) announced it has agreed to acquire 80,000 net surface acres, with up to 10 prospective zones, in the Anadarko Basin STACK play from privately held Felix Energy, a portfolio company of EnCap Investments, for $1.9 billion. In a separate transaction, the Company has also agreed to acquire 253,000 net acres in the Powder River Basin for $600 million. The transactions will be funded with approximately $1.35 billion of Devon equity issued to sellers and approximately $1.15 billion of cash on hand and borrowings.

Devon has made several bold moves over the past few years... More

Devon Energy (DVN) Said in Talks to Acquire Felix Energy

Devon Energy (NYSE: DVN) is said to be in talks to acquire Felix Energy, according to Reuters. The deal could be valued around $2 billion, inclusive of debt.

Shares of Devon are flat in early trading Thursday.