Devon Energy completes Eagle Ford acquisition

Devon Energy Corp.

Devon Energy Corp. (NYSE:DVN) has completed its acquisition of Eagle Ford assets from GeoSouthern Energy. Devon has acquired 82,000 net acres located in DeWitt and Lavaca counties in Texas. 

Devon plans to invest approximately $1.1 billion in the Eagle Ford this year and will drill more than 200 wells. For its 10 months of ownership in the play this year, the company’s net production is expected to average between 70,000 and 80,000 barrels of oil equivalent per day.

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