Six Firms Advise in String of EnCap-Devon Deals

© 2015 The Texas Lawbook.

By Natalie Posgate

(Dec. 10) – Texas lawyers from six law firms worked on a series of exit deals that EnCap Investments struck with Devon Energy and affiliates involving core assets this week that added up to $4.8 billion in value.

In the largest deal, Texas-based EnCap portfolio Felix Energy agreed to sell 80,000 net surface acreage in the Anadarko Basin STACK play to Devon for $1.9 billion. Separately, Devon agreed to acquire 253,000 net acres in the Powder River Basin for $600 million.