Devon Energy Corp. signs deal with Chinese oil company

Devon Energy Corp. has sealed a $2.5 billion deal with a Chinese oil company for a share of its acreage in five new resource plays.

BY JAY F. MARKS Published: January 4, 2012
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Devon Energy Corp. on Tuesday announced a $2.5 billion deal with a Chinese company for a share of its interests in five new resource plays.

Before this transaction, Devon assembled 1.2 million net acres in the Tuscaloosa Marine Shale, Niobrara, Mississippian, Ohio Utica Shale and the Michigan Basin.

Devon and Sinopec...

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