Scotia Waterous (USA) Inc. (“Scotia Waterous”) has been retained as exclusive advisor by Devon Energy Corporation (“Devon” or the “Company”) to advise and assist in the sale of the Company’s Utica Shale / Point Pleasant assets in Eastern Ohio (the “Offering”). The Utica / Point Pleasant play is currently in the early stages of appraisal and development. Regional well results are promising and there is growing confidence in the prospectivity of the play given very significant leasing and drilling activity.
Note: Hydrocarbon windows are courtesy of the Ohio Department of Natural Resources (ODNR)
Devon is a leading independent oil and natural gas exploration and production company headquartered in Oklahoma City, Oklahoma. Devon’s operations are focused onshore in the United States and Canada. The Offering represents a complete sale of Devon’s position in the Utica Shale / Point Pleasant play, including all acreage associated with the previously announced joint venture with China Petrochemical Corporation (“Sinopec”).
This Offering provides an opportunity to acquire a material leasehold position within the prolific Utica / Point Pleasant play. The Offering consists of approximately 244,000 gross acres (195,000 net) in eastern Ohio across in the liquids-prone portion of the play. The acreage is largely held by existing production (existing production is not included in this offering) with significant upside development potential in the Guernsey County area. Please see the Introductory Map for more details.
Interested parties are required to execute a Confidentiality Agreement (“CA”) and may be required to provide sufficient evidence of financing capabilities. The executed CA should be sent to Anne Rutherford via e-mail (email@example.com) or by fax (713) 222-0572. Approved interested parties will be provided access to the Online Virtual Data Room, the Physical Data Room and other confidential materials and information. The anticipated timetable for the Offering is as follows:
The Physical Data Room will be located in Scotia Waterous’ Houston office, where interested parties may participate in a Technical Presentation. At no time should any interested party contact the Company’s personnel regarding the Offering, unless otherwise directed by Scotia Waterous. Should you have any questions regarding the Offering, please feel free to contact a Scotia Waterous representative listed below:
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