Oil & Gas Consolidation Continues with Devon's Buy of Grayson Mill Energy

July 11, 2024--Written by John Egan for Industrial Info Resources (Sugar Land, Texas)--The consolidation among oil and gas producers continued Monday after Devon Energy Corporation (NYSE:DVN) (Oklahoma City, Oklahoma) said it was acquiring Grayson Mill Energy (Houston, Texas) in a stock and cash deal valued at $5 billion. The deal came only weeks after the Financial Times (London, England) reported Devon was beaten by ConocoPhillips (NYSE:COP) (Houston) in the competition to acquire Marathon Oil Corporation (NYSE:MRO) (Houston).