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Market Chatter: BP Weighs Acquisition of Devon Energy's South Texas Assets

MT Newswires Live
Sep 25

BP (BP) is considering a potential acquisition of Devon Energy's (DVN) operations in South Texas as part of renewed efforts to expand its US shale assets, Reuters reported Thursday, citing people familiar with the matter.

BP has been weighing oil-producing operations valued at $2 billion to $5 billion, including Devon's Eagle Ford asset, which opened its data room in late August, the report said.

BP and Devon did not respond to requests for comment by MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 44.63, Change: +0.14, Percent Change: +0.31

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