Devon Energy Deepens Their Williston Basin Assets With Grayson Mill Acquisition

Devon Energy & Grayson Mill M&A Devon Financials In the announced acquisition of Grayson Mill, management announced their new capital allocation plan with a 67% increase to share repurchases, raising the total from $3b to $5b. Management also suggested that Devon will seck to increase the dividend payout as a result of the increased production. In addition to this, Devon will be paying down $2.5b of debt throughout the next 24 months post-acquisition. Management will seek to maintain a leverage ratio under ...