COMPANY NEWS

03/03/2003
Devon, Ocean Energy plan $5.3 billion merger Devon Energy Corp., Oklahoma City, and Ocean Energy Inc., Houston, reported Feb. 24 they will merge through a stock-swap deal valued at $5.3 billion, making Devon the largest US independent oil and natural gas company, with 650,000 boe/d of production and an enterprise value of $20 billion.Devon Energy will be the surviving company and will continue to be based in Oklahoma City.In other recent company news:El Paso Corp.'s Brazilian subsidiary will sell its shares in the 3,150 km Bolivia-Brazil natural gas pipeline, according to Eduardo Karrer, president of El Paso do Brasil.IPR Red Sea Ltd. acquired 100% of the stock of Devon Energy unit De...
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