Devon to Sell Non-Core Delaware Basin Acreage to Carrizo Oil & Gas

Updated 3 years ago

Devon announced in August 2018 an agreement to sell 9,600 net acres of non-core Delaware Basin assets in Ward and Reeves Counties to Carrizo Oil & Gas for $215 million. Net production is approximately 2,500 boe/d of which 60% is oil. The transaction is expected to close in the fourth quarter of 2018. Jefferies served as Devon's financial advisor.