Last month, Devon Energy
As mentioned in my previous article, for Maersk to walk away with this prize (pegged by the company at more than 200 million net barrels), Devon's partners at Cascade, St. Malo, and Jack would all have to pass on exercising their preferential rights. Such an exercise has come to pass at the first two fields, though details are lacking. We just know that current interest owners are willing to match whatever Maersk had agreed to pay for a 50% cut in Cascade and a 25% slice of St. Malo.
As for St. Malo, there are several candidates. Chevron
The key takeaway here is that the deepwater Gulf of Mexico continues to captivate the world's leading international oil companies. This is great news for Devon, which is likely to fetch strong prices as it proceeds to monetize assets. It's also encouraging for shareholders of subsea servicers like Cameron
Fool contributor Toby Shute doesn't have a position in any company mentioned. Check out his Motley Fool CAPS profile or follow his articles using Twitter or RSS. The Motley Fool has a disclosure policy.