Exclusive-Chief Oil & Gas explores sale for more than $3 billion -sources [Reuters]
Devon Energy Corporation (DVN)
Last devon energy corporation earnings: 2/18 04:05 pm
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Source: Reuters
By David French 2 Min Read (Reuters) - Chief Oil & Gas LLC, the Appalachian exploration and production company founded and controlled by Texas wildcatter Trevor Rees-Jones, is exploring a sale that could value it at more than $3 billion, including debt, people familiar with the matter said. Rees-Jones launched Chief Oil & Gas in 1994, and it is now one of the largest privately-owned natural gas producers in the United States. His decision to attempt a sale now comes as energy prices have surged to multi-year highs, boosting corporate valuations in the industry. Chief Oil & Gas has hired an investment bank to begin a sale process for the company, the sources said, requesting anonymity because the matter is confidential. A Chief Oil & Gas spokesperson declined to comment. Chief Oil & Gas operates in the Marcellus shale in northeastern Pennsylvania and has around 600,000 net acres, producing more than 1 billion cubic feet per day (bcf/d) of natural gas. The company started out in the Ba
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- Devon Energy Co. (NYSE: DVN) had its price target raised by analysts at Susquehanna from $52.00 to $65.00. They now have a "positive" rating on the stock.MarketBeat
DVN
Earnings
- 2/27/24 - Beat
DVN
Sec Filings
- 4/11/24 - Form 4
- 4/9/24 - Form 144
- 3/13/24 - Form 4
- DVN's page on the SEC website