Pipes carry water, steam and oil at Devon Energy Corp.’s 35,000 barrel per day Jackfish Projects plant, where Steam Assisted Gravity Drainage (SAGD) is used to extract bitumen from oil sands, near Conklin, Alberta, Canada.
Jimmy Jeong | Bloomberg | Getty Images
Devon Energy said on Monday it had entered into a deal to acquire Grayson Mill Energy’s Williston basin business in a cash-and-stock deal worth $5 billion.
The deal value includes $3.25 billion in cash and $1.75 billion of stock.
Devon said the deal, expected to close by the end of the third quarter, will add 307,000 net acres to the company’s position in the Williston Basin.
