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Devon Energy completes acquisition of Grayson Mill Energy to expand its Williston Basin business

Sep 27, 2024•about 1 year ago

Acquiring Company

Devon Energy Corp

Acquired Company

Grayson Mill Energy

Oklahoma CityHoustonOil And GasEnergy

Description

Devon Energy Corp. has completed the acquisition of Grayson Mill Energy for a transaction valued at $5 billion. This strategic acquisition adds a high-margin production mix, 307,000 net acres, 500 undrilled gross locations, and 300 high-quality refrac candidates, transforming Devon’s Williston Basin business.

Company Information

Company

Devon Energy Corp

Location

West Sheridan Avenue

Oklahoma City, Oklahoma, United States

About

Devon Energy is a leading oil and gas producer in the U.S. with a premier multi-basin portfolio headlined by a world-class acreage position in the Delaware Basin. Devon’s disciplined cash-return business model is designed to achieve strong returns, generate free cash flow and return capital to shareholders, while focusing on safe and sustainable operations.

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed