M&A Deal Summary

Devon Energy Acquires WPX Energy

On September 28, 2020, Devon Energy acquired oil/gas exploration company WPX Energy

Acquisition Highlights
  • This is Devon Energy’s 9th transaction in the Oil/Gas Exploration sector.
  • This is Devon Energy’s 8th transaction in the United States.
  • This is Devon Energy’s 1st transaction in Oklahoma.

M&A Deal Summary
Date 2020-09-28
Target WPX Energy
Sector Oil/Gas Exploration
Buyer(s) Devon Energy
Deal Type Merger
Advisor(s) Citigroup Investment Banking (Financial)
Kirkland & Ellis (Legal)

Target

WPX Energy

Tulsa, Oklahoma, United States
WPX Energy is an exploration and production company focused on developing its significant natural gas, natural gas liquids, and oil reserves, particularly in the Piceance Basin, Bakken Shale, and Marcellus Shale. WPX Energy was founded in 1983 and is based in Tulsa, Oklahoma.

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Buyer(S) 1

Buyer

Devon Energy

Oklahoma City, Oklahoma, United States
Category Company
Founded 1971
Sector Oil/Gas Exploration
Employees1,800
Revenue 15.3B USD (2023)
DESCRIPTION

Devon Energy a U.S. based independent natural gas and oil producers. The company's operations are focused on North American onshore exploration and production. Devon Energy was founded in 1971 and is based in Oklahoma City.

DEAL STATS #
Overall 10 of 13
Sector (Oil/Gas Exploration) 9 of 12
Type (Merger) 3 of 3
State (Oklahoma) 1 of 1
Country (United States) 8 of 11
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-14 Devon Energy - Delaware Basin Properties

Oklahoma City, Oklahoma, United States

Devon Energy Corp. - Delaware Basin Properties comprises Approximately 10,600 gross (9,600 net) acres located in the Delaware Basin in Reeves and Ward counties, with the majority of the position adjacent to the Company’s existing acreage.

Sell $215M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-08 RimRock Oil & Gas

Greenwood Village, Colorado, United States

RimRock Oil & Gas is an exploration and production company focused on the acquisition and development of oil and gas properties primarily in the Williston Basin. The Company currently operates approximately 30,000 net acres in the Fort Berthold Indian Reservation of Dunn County, North Dakota.

Buy $865M
Mergr

Product

Company

Legal