DEVON ENERGY CORP
February 1st, 2003
BY MONICA DOBIE
THE USA'S Devon Energy Corp. has announced that it will buy Ocean Energy Corp. for US$3.5 billion in stock, to create the largest America-based independent oil and gas production company. Oklahoma-based Devon, which took over Anderson Exploration of Calgary in 2001 for a hefty US$4.6 billion and Northstar Energy, also of Calgary, in 1998, will assume US$1.8 billion of Houston-based Ocean's debt.
THE USA'S Devon Energy Corp. has announced that it will buy Ocean Energy Corp. for US$3.5 billion in stock, to create the largest America-based independent oil and gas production company. Oklahoma-based Devon, which took over Anderson Exploration of Calgary in 2001 for a hefty US$4.6 billion and Northstar Energy, also of Calgary, in 1998, will assume US$1.8 billion of Houston-based Ocean's debt.
Full access to this article can be arranged with permission from the client that first ordered it. Please contact us to request access. Entries are uploaded to our archive at least one year after being published by a client – free access is restricted to International News Services journalists for background research only. The article date indicates when copy was filed to a client, not when posted to this archive. Upon client requests, International News Services will remove such articles from the archive or not upload them in the first place. They are included to demonstrate the breadth of topics undertaken by the agency and also to help promote clients’ coverage.