Devon hires Jefferies to sell non-core assets

As part of Devon Energy Corp.’s initiatives to raise cash and reduce debt, the company has hired Jefferies Group LLC to market assets across four US shale basins, according to Reuters.

The drilling and exploration assets being offered are located across the Permian Basin, the Granite Wash formation, East Texas, and the Mississippian play.

In December 2015, Devon said that it wanted to raise $2 billion to $3 billion from selling non-core oil assets, along with its 50% interest in the Access pipeline in Canada.

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