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Actionable news in DVN: DEVON ENERGY CORPORATION,

Devon Sheds Access Pipeline Stake For $1.1B

Devon Energy (DVN) said Thursday it agreed to sell its half stake in the Access pipeline to Canada Pension Plan Investment Board-backed Wolf Midstream for C$1.4 billion ($1.1 billion), the last of its expected asset sales to raise cash during a difficult time in the oil and gas industry.

The deal includes the potential for a C$150 million payment with the sanctioning and development of a new thermal-oil project on Devon's Pike lease in Alberta, Canada.

The pipeline system transports blended bitumen and diluent between the Christina Lake area of Northeastern Alberta and...


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