Devon Energy sells NW Oklahoma properties for $200 million
Ponca City Now - April 21, 2016 9:47 am
OKLAHOMA CITY (AP) – Devon Energy Corp. has announced a deal to sell oil and gas properties in northern Oklahoma for $200 million to a private driller.
The Oklahoma City-based company announced Wednesday that it would sell non-core Mississippian assets to White Star Petroleum, LLC, which was formerly known as American Energy-Woodford LLC.
Devon says the sale is part of the company’s plan to sell $2 billion to $3 billion of non-core assets during 2016. The deal includes 210,000 net acres in Garfield, Lincoln, Logan and Payne counties.
Devon announced plans earlier this year to lay off about 1,000 employees because of the downturn in the oil and gas industry.