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Article: DEVON ENERGY TO MERGE WITH DEVON PARTNERSHIPS / FORM PUBLIC FIRM ABLE TO REACH 'CRITICAL MASS'
- Article from:
- THE JOURNAL RECORD
- Article date:
- April 15, 1988
- Author:
CopyrightCopyright (null) The Journal Record. Provided by ProQuest LLC. (Hide copyright information)
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with two limited partnerships, forming a public corporation able to
reach a "critical mass" for further growth, company executives said
Thursday.
Devon Energy, a privately-held Oklahoma City firm, would
simultaneously merge with a new Devon entity through a transfer of
stock, and purchase the assets of two limited partnerships, the
publicly-traded Devon Resource Investors and the privately-held
Devon-Smedvig 1973 Oil & Gas Program Ltd.
J. Larry Nichols, president of Devon Energy, and H. Allen
Turner, vice president of Devon Resource, said these transactions
would result in a larger, publicly-held company able to receive more
credit without facing the taxation burdens the limited ...