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
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 Barnett shale formation in Texas but sold its position there in two chunks, the first going to Devon Energy Corp in 2006 and the second to Quicksilver Resources in 2008,
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DVN
News
- Devon Energy Co. (NYSE: DVN) had its price target raised by analysts at Morgan Stanley from $49.00 to $50.00. They now have an "overweight" rating on the stock.MarketBeat
- Devon Energy (DVN) Stock Moves -0.89%: What You Should Know [Yahoo! Finance]Yahoo! Finance
- Devon Energy Co. (NYSE: DVN) had its price target raised by analysts at Citigroup Inc. from $55.00 to $62.00. They now have a "buy" rating on the stock.MarketBeat
- Devon Energy Co. (NYSE: DVN) had its price target raised by analysts at Scotiabank from $53.00 to $67.00. They now have a "sector outperform" rating on the stock.MarketBeat
- Devon Energy Co. (NYSE: DVN) had its price target raised by analysts at UBS Group AG from $48.00 to $57.00. They now have a "neutral" 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