https://www.reuters.com/article/us-wpx-energy-m-a-devon-energy-idCAKBN26J1PH

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(Reuters) - U.S. oil and gas producer Devon Energy Corp DVN.N said on Monday it will buy Permian basin peer WPX Energy Inc WPX.N for $2.56 billion as it looks to boost its presence in the Delaware portion of the prolific shale field. FILE PHOTO: A WPX Energy natural gas drilling rig in Parachute, Colorado, December 10, 2014. REUTERS/Jim Urquhart. The deal comes as U.S. shale companies post losses due to weak crude prices and struggle to raise new capital to restructure debt. But as producers seek out combinations to survive a coronavirus-induced slump in demand, deals at little or no premium are becoming the norm. The deal values WPX at $4.56 per share, just 2.7% higher than the stock’s ... Full story

28 September

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