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Devon has been on an acquisition binge recently, firming up its Tier I acreage positions in key shale plays. Read more about DVN stock here.
Conference: Oil Patch M&A Expected to Surge
Devon Energy Corp. agreed to acquire Validus Energy for about $1.8 billion in cash to expand in the Eagle Ford shale patch in South Texas.
The oil company is making its second acquisition of cash-gushing assets this year.
The U.S. shale industry is now hyper-focused on returning value to shareholders, and buying up mature wells while prices are high is one way to do that