Devon Energy Completes Strategic Acquisition in the Williston Basin

Devon Energy Corp. has announced the successful completion of its acquisition of Grayson Mill Energy, valued at $5 billion prior to purchase price adjustments.

This acquisition enhances Devon's position as a leading U.S. producer by adding a high-margin production mix. It significantly transforms the company's operations in the Williston Basin, contributing 307,000 net acres, 500 undrilled gross locations, and 300 high-quality refrac candidates.

Rick Muncrief, president and CEO, expressed enthusiasm for the acquisition, stating, "This strategic transaction is a perfect fit for Devon, allowing us to efficiently increase our operating scale and production. I appreciate the hard work of the teams involved and look forward to a successful integration."

Devon plans to share additional updates regarding its 2024 production and capital outlook with its third-quarter earnings report on November 5, 2024.