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Report: Devon Energy in deal for GeoSouthern Energy Corp.

by Paul Monies Published: November 19, 2013

Oklahoma City’s Devon Energy Corp. might be in a shopping mood.

The Wall Street Journal posted a story this afternoon about the possibility of Devon buying GeoSouthern Energy Corp., a privately held oil and gas company based in The Woodlands, Texas.

The newspaper didn’t identify its sources, but said an announcement for the deal, valued at $6 billion, could come as soon as Wednesday.

Devon spokesman Chip Minty said in an email the company doesn’t comment “on rumors and speculation.”

GeoSouthern Energy has operations in Texas’ prolific Eagle Ford shale play. A report earlier this year in the Houston Chronicle said the company had about 140 people at its headquarters in The Woodlands. GeoSouthern Energy was looking at leasing space in the Wildwood Corporate Center, a new office development expected to open in early 2014.

Shares of Devon were up about 5 percent in Tuesday afternoon trading on the New York Stock Exchange.

 


by Paul Monies
Energy Reporter
Paul Monies is an energy reporter for The Oklahoman. He has worked at newspapers in Texas and Missouri and most recently was a data journalist for USA Today in the Washington D.C. area. Monies also spent nine years as a business reporter and...
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