16 June 2015debt financing● Neutral
Devon raised $750 million selling 30-year senior notes at a 5.000% interest rate.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
6 Aug 2014production update● Neutral
Devon updated its guidance again after agreeing to sell additional non-core U.S. assets to Linn Energy, continuing its portfolio simplification.
7 May 2014production update● Neutral
Devon updated its 2014 guidance after selling its Canadian conventional oil and gas assets to Canadian Natural Resources, an early step in a multi-year push to simplify its portfolio around U.S. oil.
10 Mar 2014asset acquisition disposition● Neutral
Devon finalized registration and unitholder agreements for EnLink Midstream, the pipeline company created by combining Devon's midstream assets with Crosstex Energy, giving Devon rights to eventually register and sell its EnLink ownership units.
3 Mar 2014asset acquisition disposition▲ GoodMajor
Devon closed its roughly $6 billion purchase of Eagle Ford Shale oil assets in Texas from GeoSouthern Energy, adding 82,000 net acres of high-return drilling acreage funded with cash and new debt.
7 Feb 2014material agreement● Neutral
Devon amended its revolving credit agreement to carve out debt taken on by EnLink Midstream, the entity formed by combining most of Devon's U.S. midstream pipeline assets with Crosstex Energy, so EnLink's borrowing wouldn't trip Devon's own loan covenants.