Devon Energy (NYSE:DVN) is considering major acquisition targets as it seeks to gain scale in U.S. shale, and has held preliminary talks in recent months about a combination with Marathon Oil (NYSE:MRO), Bloomberg reported Wednesday.
Oil & Gas Data Download Center
Devon Energy Wells Drilled 2023
Detailed list of wells drilled by Devon Energy in 2023
US Oil & Gas Operators
Detailed list of Oil & Gas Operators in the US
The companies are complementary because both operate in a handful of basins in the midwestern U.S., Oklahoma, Texas and New Mexico.
Separately, Devon (DVN) has been looking at CrownRock LP, a Permian Basin producer, according to the report, which also said the closely-held company could fetch more than $10B in a sale.
Either Marathon Oil (MRO) or CrownRock would be Devon’s (DVN) largest deal since its $2.6B takeover in 2021 of WPX Energy; Marathon +1.8% and Devon -1.6% post-market following the report.
Energy News
