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Devon sells Delaware acreage

Devon Energy has agreed to sell non-core Delaware Basin acreage in the US to Houston-based Carrizo Oil and Gas for US $215m.

  The sale includes about 10,600 gross (9,600 net) acres located in the Delaware Basin in Reeves and Ward counties. The assets have a net production capacity of nearly 2,500 boe/d (60% oil).

  The acquisition increases Carrizo Oil and Gas’s acreage position in the Delaware Basin to approximately 46,000 net acres on a pro forma basis. It is expected to bring a high degree of operational control with more than 90% of net acreage operated.