Devon Energy (NYSE:DVN) recently announced it was buying GeoSouthern's Energy Corp's Eagle Ford assets for $6 billion. Devon has been a company in transition in recent years and investors have been waiting for the company to open its wallet and bolster its position in shale. However, I'm not as giddy on the deal as others. My issue with the move is really two-fold: Did Devon overpay for the assets, and is the company late to the shale boom?
John Licata is the Founder & Chief Energy Strategist of Blue Phoenix Inc. You can follow John on Twitter @bluephoenixinc
- Nov 29, 2013 at 9:36AM
- Energy, Materials, and Utilities