BUSINESS HEADLINES

Sale completed of ACG field

By Messenger Staff | Published Sunday, August 22, 2010

Devon Energy Corp. announced it has completed the sale of its ACG field location offshore Azerbaijan in the Caspian Sea to BP for $2 billion.

Devon’s current production from the ACG field is approximately 17,000 barrels of oil per day.

“With the close of ACG, we have received aggregate pre-tax proceeds from the Gulf of Mexico and international divestitures of approximately $6.7 billion,” said John Richels, Devon president and CEO.

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