Devon Energy (DVN) announces a transaction with Sinopec International (SHI) whereby the company...


Devon Energy (DVN) announces a transaction with Sinopec International (SHI) whereby the company will give up one-third of its interest in 5 separate venture plays for $2.2B. The firm says the deal will improve its capital efficiency by recovering its land and drilling costs and by cutting future capital commitments. Shares +4.8% premarket.

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