GE, Devon Energy announce technology partnership

|By:, SA News Editor

General Electric (GE +1.3%) and Devon Energy (DVN +0.3%) say they will team up to develop systems to help boost the flow of liquids from oil wells.

The companies plan to work together to develop and test products to enhance the performance and economics of unconventional oil and gas projects, including artificial lift systems used for increasing the flow of liquids from production wells, advanced drilling technologies and water treatment solutions.

The announcement comes after Chevron and GE formed a technology alliance in February.