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Article: DEVON WILL BE SECOND LARGEST INDEPENDENT AFTER CONSOLIDATION
- Article from:
- THE JOURNAL RECORD
- Article date:
- August 16, 1988
- Author:
CopyrightCopyright (null) The Journal Record. Provided by ProQuest LLC. (Hide copyright information)
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Approval of the consolidation of Devon Energy Corp.
with two limited partnerships into a public corporation would make
it the second-largest independent oil and natural gas company in
Oklahoma City, according to Devon officials.
Approval of the consolidation will be considered at a special
meeting of shareholders and unit holders from both companies Sept.
28.
The new Devon will be financially stronger, possess greater oil
and gas reserve volumes, have more diverse oil and gas properties
and have greater technical and operating capacity than either Devon
Resource Investors, the "Old Devon" or Smedvig individually,
according to J. Larry Nichols, president.
With consolidation, Devon ...