FANG - Devon Energy: Averaging Down The Earnings With The Grayson Mill Acquisition
2024-07-11 11:01:51 ET
Summary
- Devon Energy plans to purchase Grayson Mill Energy assets in the Williston Basin.
- Comparison to Diamondback Energy shows Devon's "diworsification" strategy.
- Hess reporting indicates low profits from United States assets, suggesting the Hess Bakken acreage has high costs.
- Diamondback Energy has very roughly the same free cash flow as Devon on far less production.
- Diamondback Energy reported more GAAP profits in the first quarter on far less production than Devon.
...
Devon Energy: Averaging Down The Earnings With The Grayson Mill Acquisition