WSJ: Devon Energy nears $6B deal for GeoSouthern

Devon Energy (DVN +1.9%) reportedly is close to acquiring privately-held GeoSouthern Energy for ~$6B, and a deal could be announced as soon as tomorrow.

GeoSouthern is a Texas-based oil and gas exploration company whose operations are focused in the Eagle Ford shale, which it helped pioneer.

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Comments (3)
  • Mike Maher
    , contributor
    Comments (2862) | Send Message
    $PVA moving higher as it looks like consolidation is coming to Gonzales and Lavaca Counties.
    19 Nov 2013, 03:31 PM Reply Like
  • User 353732
    , contributor
    Comments (5158) | Send Message
    Having lost investor confidence because of strategic drift and poor execution DVN has been working well over the past 2 years to regain it by becoming a North American independent with a growing asset base in low permeability US oil and gas reserves.
    DVN now seems positioned to deliver superior growth over the next 3 years.
    19 Nov 2013, 04:00 PM Reply Like
  • GamCap LLC
    , contributor
    Comments (484) | Send Message
    This, coupled with the 2B deal for CENJF today, not bad. XOM hasn't done a size deal since XTO. COP, has jettisoned their refining div and sold off a lot of their overseas exposure...good candidate as a buyer. CVX, needs to do something soon as their domestic liquids production is punk. BP, RDS/A...falling production, same boat....need to add to reserves.


    This also could have been a defensive move by DVN, with 6 billion in cash...most offshore...they may have received overtures from the majors.
    19 Nov 2013, 10:26 PM Reply Like
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