, 11.16.09, 03:57 PM EST With the business environment worsening overseas, U.S.-focused Devon could be a tasty prize for the energy giant.
- people ) to sell all of its offshore and international oil and gas fields. The streamlining will make Devon faster growing and more profitable, focusing it on burgeoning U.S. natural gas shale plays. It was a telling moment. After realizing his error, Nichols likened himself to the famous dog trained by behavioral scientist Ivan Pavlov to salivate whenever he heard a bell ring. For the last decade it has always been Devon doing the acquiring, snapping up deepwater Gulf of Mexico projects, Brazilian offshore wildcats, a piece of a megafield in Azerbaijan, even some fields in China. Now Devon aims to sell all those underappreciated morsels, hoping to net $5.5 billion after tax.
Full Story: Slimmer Devon Could Set Exxon Salivating - Forbes
- people ) to sell all of its offshore and international oil and gas fields. The streamlining will make Devon faster growing and more profitable, focusing it on burgeoning U.S. natural gas shale plays. It was a telling moment. After realizing his error, Nichols likened himself to the famous dog trained by behavioral scientist Ivan Pavlov to salivate whenever he heard a bell ring. For the last decade it has always been Devon doing the acquiring, snapping up deepwater Gulf of Mexico projects, Brazilian offshore wildcats, a piece of a megafield in Azerbaijan, even some fields in China. Now Devon aims to sell all those underappreciated morsels, hoping to net $5.5 billion after tax.
Full Story: Slimmer Devon Could Set Exxon Salivating - Forbes
