A report by energy researcher Enverus shows oil patch acquisitions and mergers topped $30 billion in the second quarter of this year and that includes Devon Energy’s $5 billion takeover of shale oil producer Grayson Mills.
Devon’s deal allows the Oklahoma City company greater access to the Williston Basin in North Dakota, Montana, South Dakota and Canada. It was a $3.25 billion cash and $1.75 billion stock deal and the agreement is expected to close by the end of the current quarter.
But Reuters reported that Enverus shows there were much larger deals or mergers including the $22.5 billion offer by ConocoPhillips for Marathon Oil.
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