Devon Energy Acquires RimRock Oil and Gas in $865 Million Bolt-on

Devon Energy agreed to acquire the leasehold interest and related assets of RimRock Oil and Gas, a Warburg Pincus portfolio company focused in the Williston Basin.

Hart Energy Staff
Devon Energy Acquires RimRock Oil and Gas in $865 Million Bolt-on

RimRock Oil and Gas is an independent oil and gas company founded and led by industry veteran Jim Fraser. (Source: Hart Energy)

Devon Energy Corp. is adding onto its Williston Basin position through the “bolt-on acquisition” of RimRock Oil and Gas LP announced June 8.

“This bolt-on acquisition is highly complementary to our existing position in the Williston Basin and is immediately accretive to our financially-driven strategy,” Rick Muncrief, Devon’s president and CEO, commented in a company release.

According to the release, Devon agreed to acquire the leasehold interest and related assets of RimRock Oil and Gas, a Warburg Pincus portfolio company focused in the Williston Basin, for total cash consideration of $865 million.

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