Devon Energy Announces Amended Barnett Shale Asset Sale Agreement
Devon Energy Corporation (DVN)
Last devon energy corporation earnings: 2/18 04:05 pm
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investors.devonenergy.com/investors/events-presentations/default.aspx
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Source: GlobeNewswire
OKLAHOMA CITY, April 14, 2020 (GLOBE NEWSWIRE) -- Devon Energy Corp. (NYSE: DVN) and Banpu Kalnin Ventures (BKV) today announced an amendment to the existing terms of their Barnett Shale purchase and sale agreement. Under the amended terms, Devon has agreed to sell its Barnett Shale assets to BKV for up to $830 million of total proceeds, consisting of $570 million in cash at closing and contingent payments of up to $260 million. With the amended terms, Devon will receive an increased deposit of $170 million from BKV, and the scheduled closing date for the transaction is extended from April 15, 2020 to Dec. 31, 2020. The closing payment is subject to customary purchase price adjustments that, among other things, allocate revenues and expenses based on a Sept. 1, 2019, effective date. The agreement also provides for contingent cash payments of up to $260 million based upon future commodity prices, with upside participation beginning at either a $2.75 Henry Hub natural gas price or a
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DVN
Earnings
- 2/17/26 - Beat
DVN
Sec Filings
- 2/18/26 - Form 10-K
- 2/17/26 - Form 8-K
- 2/12/26 - Form 4
- DVN's page on the SEC website