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Devon Energy and BP Enter Into $7.0B Property Sales Agreement and Oil Sands Joint Venture

Green Car Congress

Devon Energy Corporation has entered into agreements to sell all of its assets in the deepwater Gulf of Mexico, Brazil and Azerbaijan to BP for $7.0 In Azerbaijan, acquisition of Devon’s 5.63% stake in the ACG development will increase BP’s operating interest in the fields to 39.77%. billion in cash.

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BP closes out 2013 with deepwater finds in Gulf of Mexico and offshore Angola; new activity offshore Brazil

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The lease for Keathley Canyon Block 93 was acquired in the Western Gulf of Mexico Lease OCS Sale 187 in 2003. BP deepened its equity in the Gila prospect and accessed the BM-CAL-13 lease as part of the acquisition of Devon Energy’s interests in the Gulf of Mexico, Brazil and Azerbaijan, announced in 2010. Click to enlarge.

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