Devon buys Validus Energy for $1.8 billion, expands Eagle Ford footprint

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Devon Energy made what it called a $1.8 billion “bolt on” acquisition Aug. 9 of privately held Validus Energy that expands its Eagle Ford Shale scale, a surprise move that bulked up its position in a maturing basin but one which the company said was low-cost and situated in a premium-priced locale. Oklahoma City-based Devon said the accretive transaction captures…