Hess also jumps on buyback wagon
Devon Energy (ticker: DVN) announced major moves today, selling assets to fund a new share buyback program.

Devon plans to sell its southern Barnett assets for a total of $553 million. Net production from these properties, which are located in Johnson County, Texas, average 200 MMcfe/d. Based on the closing price, Devon will receive about $2,765 per flowing Mcfe/d for the sale, in line with other recent gas deals like PDCE’s Ohio sale and WildHorse’s North Louisiana sale.
Sale price represents 5.5x yearly c...

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