trending Market Intelligence /marketintelligence/en/news-insights/trending/y29pgrOyl03xiLIEk9Xg4w2 content esgSubNav
In This List

Devon Energy completes C$1.4B sale of 50% stake in Access pipeline

Blog

Understanding Loss Given Default A Review of Three Approaches

Blog

Insight Weekly: US recession outlook; mortgage activity slowdown; climate disclosure push

Blog

Firms Realize the Value of Data Driven Decision Making

Blog

Insight Weekly: Cybersecurity M&A momentum; US banks' loan growth; miners' labor supply woes


Devon Energy completes C$1.4B sale of 50% stake in Access pipeline

completed thedivestiture of its50% ownership in the Access pipeline to the Canada Pension Plan Investment Board-backed WolfMidstream Inc. for C$1.4 billion.

The dealcould include an additional C$150 million paid to Devon from Wolf Midstream fora new thermal oil project on Devon's Pike lease in Alberta, according to anOct. 6 news release. With this project and other future developments, Accesspipeline tolls are expected to decrease by an estimated 30%.

Thetransaction concludes Devon's divestiture program, which garnered totalproceeds of US$3.2 billion. Devon said it plans to use most of the proceeds fordebt reduction.