Devon said the company was looking at the possibility of establishing a joint venture agreement in the Tuscaloosa Marine Shale in Louisiana, the Mississippi Lime in Oklahoma, the Niobrara Shale in Wyoming, and the Utica Shale and the Michigan Basin in Ohio.
Devon Executive Vice President Exploration and Production David Hager said a joint venture would allow the company to eliminate the large amount of money it has to invest acquiring acreage and redeploy that capital back into drilling or share repurchases.
“We have been conducting the data room. We’ve had outstanding interest from the companies who reviewed our acreage position,” Hager said.
