M&A Deal Summary

Devon Energy Acquires Ocean Energy

On February 24, 2003, Devon Energy acquired oil/gas exploration company Ocean Energy for 5.3B USD

Acquisition Highlights
  • This is Devon Energy’s 7th transaction in the Oil/Gas Exploration sector.
  • This is Devon Energy’s largest (disclosed) transaction.
  • This is Devon Energy’s 5th transaction in the United States.
  • This is Devon Energy’s 5th transaction in Texas.

M&A Deal Summary
Date 2003-02-24
Target Ocean Energy
Sector Oil/Gas Exploration
Buyer(s) Devon Energy
Deal Type Merger
Deal Value 5.3B USD

Target

Ocean Energy

Houston, Texas, United States
Ocean Energy, Inc. an independent oil and gas exploration and production company.

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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 7 of 13
Sector (Oil/Gas Exploration) 7 of 12
Type (Merger) 2 of 3
State (Texas) 5 of 6
Country (United States) 5 of 11
Year (2003) 1 of 1
Size (of disclosed) 1 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-01-23 Mitchell Energy & Development

The Woodlands, Texas, United States

Mitchell Energy & Development Corp. is an oil and gas exploration company.

Buy $3.5B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-05-02 Chief Holdings

Waterbury, Connecticut, United States

Chief Holdings LLC is a provider of energy services.

Buy $2.2B
Mergr

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