DEVON ENERGY CORPORATION (NYSE:DVN) Files An 8-K Completion of Acquisition or Disposition of Assets
As previously disclosed, Devon Canada Corporation and Devon Canada Crude Marketing Corporation (collectively, the Sellers), each a wholly-owned subsidiary of Devon Energy Corporation (the Company), entered into an Agreement of Purchase and Sale (the Purchase Agreement) with Canadian Natural Resources Limited (the Purchaser), to which the Sellers agreed to sell substantially all of their oil and gas assets and operations in Canada to the Purchaser for CAD $3.8 billion (USD $2.8 billion) in cash, subject to certain purchase price adjustments.
On June 27, 2019, the transactions contemplated by the Purchase Agreement were completed, to which the Sellers received proceeds, net of purchase price adjustments, of CAD $3.4 billion (USD $2.6 billion) from the Purchaser.
The foregoing description of the Purchase Agreement and the transactions contemplated thereby is not complete and is subject to and qualified in its entirety by reference to the Purchase Agreement, a copy of which is included as Exhibit 2.1 to the Companys Form 8-K, filed with the Securities and Exchange Commission on May 31, 2019, and the terms of which are incorporated herein by reference.
On June 27, 2019, the Company issued a press release in connection with the closing of the transactions described in Item 2.01 above.
The information in Item 7.01 of this Current Report and in Exhibit 99.1 attached hereto is being furnished and shall not be deemed filed for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section. The information in Item 7.01 of this Current Report and in Exhibit 99.1 attached hereto shall not be incorporated by reference into any registration statement or other document to the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in any such filing.
(b) Pro Forma Financial Information
The unaudited pro forma consolidated financial information of the Company giving effect to the transactions described in Item 2.01 above is filed as Exhibit 99.2 to this Current Report on Form 8-K and is incorporated herein.
|99.2||Unaudited Pro Forma Consolidated Financial Information of Devon Energy Corporation.|