Gulf Oil and Gas accountACCOUNT

Devon Energy Closes Sale of Assets in Gabon

Source: www.gulfoilandgas.com 5/19/2008, Location: Africa

Share |
Devon Energy Corporation announced that it has completed the sale of its operations in the West African nation of Gabon. The buyer is Oranje-Nassau Energie B.V., a subsidiary of Oranje-Nassau Groep B.V. The sale price is $205.5 million. Devon expects to incur no income taxes on the transaction.

Devon is in the process of divesting all of its operations in Africa. The company has previously announced signed purchase and sale agreements with an aggregate value of more than $3 billion.

Sales of its operations in Cote d'Ivoire and Equatorial Guinea remain to be completed. Devon agreed to sell its operations in Cote d'Ivoire to Afren plc for $205 million. It has agreed to sell its operations in Equatorial Guinea to GEPetrol, the national oil company of Equatorial Guinea, for $2.2 billion. Devon expects to complete these remaining transactions around mid-year 2008.

Asset Portfolio Management News in Gabon >>

Egypt >>  5/14/2018 - Last week, the Minister of Energy of Cyprus, Mr. George Lakkotrypis, and the Minister of Petroleum and Mineral Resources of Egypt, Eng. Tarek El Molla...
Libya >>  5/13/2018 - Libya’s offshore Bahr al-Salam gas field has resumed operations with production of 380 million cubic feet per day, state firm NOC said after completin...

Egypt >>  5/10/2018 - Eni announces the start-up of the third production unit (T-2) of the Zohr project, increasing the installed capacity to 1.2 bcfd. Zohr is now producin...
Egypt >>  5/3/2018 - Eni announces an oil discovery on the A-2X exploration prospect located in South West Meleiha license, in the Egyptian Western Desert, some 103 Km Nor...

Morocco >>  5/2/2018 - Shearwater GeoServices (Shearwater) has been awarded a contract to acquire 3D seismic for Genel Energy in the Sidi Moussa license offshore Morocco. Ad...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Gabon Oil & Gas 1 >>  2 | 3 |

More News

 

Oil & Gas Companies in Gabon >>


Related Links

AO BJ BW CD CG CI CM DZ EG EH ET GA GH GM GN GQ GW KE LR LY MA MG ML MR MZ NA NE NG RW SC SD SL SN SO ST SZ TD TN TZ UG ZA ZM
Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Privacy Policy.