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Devon Energy (DVN) says Japan's Sumitomo will take a 30% stake in 650K shale acres DVN controls...
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Wednesday, August 1, 2012, 8:35 AM ETDevon Energy (DVN) says Japan's Sumitomo will take a 30% stake in 650K shale acres DVN controls in the Permian Basin in a $1.4B deal. Sumitomo will invest $340M in cash upon closing and an additional $1.025B will be invested in DVN's drilling costs in the Cline and Midland-Wolfcamp shales.
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