Here’s a major oil deal to keep on your radar:
Dealbook: Devon Energy, the independent oil and gas firm, surprised many on Monday by announcing its plans to divest all of its offshore and international energy properties to concentrate on its domestic onshore energy businesses.
The sale, which the company estimates could generate after-tax proceeds of between $4.5 billion to $7.5 billion, would be one of the largest sales in the Gulf of Mexico in recent history and could draw some major bidders with deep pockets, ranging from the major oil companies to foreign competitors, including the Chinese.
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