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Devon Energy to sell Gulf of Mexico assets, others
Quick ReadDevon Energy to divest Gulf of Mexico, other worldwide assets, expects proceeds up to $7.5B
OKLAHOMA CITY (AP) — Independent oil and gas producer Devon Energy Corp. said Monday it will divest its Gulf of Mexico and international assets.
Devon expects the divestitures will create after-tax proceeds of $4.5 billion to $7.5 billion. The company plans to use the proceeds to invest in its U.S. and Canadian portfolio and retire debt.
Shares advanced in afternoon trading.
The...
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