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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Devon Energy Corp | NYSE:DVN | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.20 | 0.40% | 50.54 | 51.30 | 50.16 | 51.11 | 8,953,765 | 01:00:00 |
From May 2019 to May 2024
Devon Energy Corp. said Wednesday that it plans to sell shares valued at about $1.12 billion, intending to use proceeds to help its liquidity position, reduce debt and fund its capital program.
The Oklahoma City oil-and-gas producer said it would offer at least 55 million shares.
That plan comes a day after the company said it would cut its workforce by 20%, slash its dividend and pare spending as depressed energy prices continue to weigh on the company.
Oklahoma City-based Devon has spent years cutting its holdings to focus on North America, and in December agreed to buy a combined 333,000 acres in Oklahoma and Wyoming for $2.5 billion. The company has said it plans to sell some other acreage, as well as pipelines in Canada, for up to $3 billion.
In after-hours trading, shares were down 4.8% to $19.35.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
February 17, 2016 17:15 ET (22:15 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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