Devon Energy, (NYSE: DVN), announced a deal with Delfin Midstream (privately held) on Monday September, 5th, to buy into a Floating Liquefied Natural Gas-FLNG vessel, yet to be FID'd and constructed. The financial terms were not released, but this certainly involves a major cash commitment from Devon.
In what amounts to a delayed reaction, in the absence of other news, the market didn't seem to like it at first in Friday’s trading, and Devon stock sagged for much of the day. A day when other E&P stocks were rising on what turned…This Large U.S. Driller Just Made A Big Move Into LNG
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