M&A Deal Summary

Devon Energy Acquires RimRock Oil & Gas

On July 8, 2022, Devon Energy acquired oil/gas exploration company RimRock Oil & Gas for 865M USD

Acquisition Highlights
  • This is Devon Energy’s 10th transaction in the Oil/Gas Exploration sector.
  • This is Devon Energy’s 9th largest (disclosed) transaction.
  • This is Devon Energy’s 9th transaction in the United States.
  • This is Devon Energy’s 1st transaction in Colorado.

M&A Deal Summary
Date 2022-07-08
Target RimRock Oil & Gas
Sector Oil/Gas Exploration
Buyer(s) Devon Energy
Deal Type Add-on Acquisition
Deal Value 865M USD

Target

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.

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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 11 of 13
Sector (Oil/Gas Exploration) 10 of 12
Type (Add-on Acquisition) 8 of 9
State (Colorado) 1 of 2
Country (United States) 9 of 11
Year (2022) 1 of 2
Size (of disclosed) 9 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-28 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.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-09 Validus Energy

Denver, Colorado, United States

Validus Energy is an exploration and production company focused on the acquisition and exploitation of upstream oil and gas assets. The Company’s primary objective is to build and operate a large-scale portfolio of producing wells and drilling locations in the Eagle Ford Shale. It has a returns-focused business model – pursue disciplined growth, emphasize capital efficiency, maintain low leverage, and prioritize cash returns to shareholders. Validus Energy was formed in 2021 and is based in Denver, Colorado.

Buy $1.8B
Mergr

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