Devon Energy Corporation has agreed to acquire 50,000 net acres and associated production primarily in the Cana-Woodford Shale for $249 million in cash. The acquired properties represent half of the interests Cimarex Energy is agreeing to acquire in a cash transaction announced yesterday.

Devon's portion of the agreed acquisition includes current production of approximately 5,800 barrels of oil equivalent per day (37 percent liquids) and proved reserves of approximately 23 million barrels of oil equivalent as of January 1, 2014.

Tags: Devon Energy Corporation