Koil Energy Solutions Inc. (KLNG)

[nature boy]

Devon's Out Of Africa: Equatorial Guinea Assets Sold, Focus On GOM

by Kerry Laird Rigzone
Tuesday, April 08, 2008


Devon Energy will sell its oil and gas assets in Equatorial Guinea for $2.2 billion and shift its focus to nearly two-dozen hot Gulf of Mexico prospects, a company spokesperson told Rigzone.

"We are heavily engaged in exploration and production in the Gulf of Mexico," said Devon spokesperson Chip Minty. He added that Devon has 20 prospects left to drill in a "very exciting area" where the company has a "good deal of running room."

The company is seeking to move its assets and rededicate its efforts with a passion on the hot Gulf of Mexico prospects, said Minty