The Briefing Room
General Category => Science, Technology and Knowledge => Energy => Topic started by: Elderberry on December 19, 2019, 01:54:31 am
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Houston Chronicle by Jordan Blum 12/18/2019
Devon Energy is selling its position in Texas' Barnett shale for $770 million, leaving the birthplace of the shale revolution without any top industry players.
After selling other parts of its Barnett position previously, Devon will exit the region with the $770 million sale to a Denver-based private equity firm called Kalnin Ventures, which is primarily backed by the Thailand coal-mining and power giant Banpu. The shale position will be operated by BKV Oil & Gas Capital Partners.
The deal includes more than 320,000 gross acres and 4,200 producing wells, making BKV the biggest producer in the Barnett once the deal closes next year.
More: https://www.houstonchronicle.com/business/energy/article/The-top-company-in-Texas-birthplace-of-shale-14915330.php (https://www.houstonchronicle.com/business/energy/article/The-top-company-in-Texas-birthplace-of-shale-14915330.php)
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Devon was way behind on getting into more liquids plays.