Exclusive: U.S. shale producer Devon in talks to acquire peer WPX – sources

26 Sep by Vitaliy Dadalyan

Exclusive: U.S. shale producer Devon in talks to acquire peer WPX – sources

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Exclusive: U.S. shale producer Devon in talks to acquire peer WPX - sourcesU.S. shale producer Devon Energy Corp is in talks to acquire rival WPX Energy Inc in an all-stock transaction that would create a company worth around $6 billion, people familiar with the matter said on Saturday. The deal talks show how consolidation in the oil and gas industry is picking up, as low energy prices drive some independent producers to seek scale through mergers. In July, Noble Energy Inc agreed to be acquired by Chevron Corp for $5 billion in stock.