Devon prices upsized offering of common stock

Devon Energy Corp. (NYSE: DVN) has priced an upsized public offering of 69,000,000 shares of its common stock at a price to the public of $18.75 per share.

Net proceeds from the offering are expected to be used for general corporate purposes, including bolstering the company’s liquidity position, reducing indebtedness, and funding the company’s capital program. Devon has also granted the underwriters an option to purchase up to an additional 10,350,000 shares of its common stock at the underwriters’ election. The offering is expected to close on Feb. 22, subject to customary closing conditions.

Goldman, Sachs & Co. is acting as book-running manager for the offering.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Making DDoS Mitigation Part of Your Incident Response Plan: Critical Steps and Best Practices

Like a new virulent strain of flu, the impact of a distributed denial of service (DDoS) attack is...

The Multi-Tax Challenge of Managing Excise Tax and Sales Tax

To be able to accurately calculate multiple tax types, companies must be prepared to continually ...

Operational Analytics in the Power Industry

Cloud computing, smart grids, and other technologies are changing transmission and distribution. ...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...