COMPANY NEWS: Devon acquiring Barnett shale acreage from Chief

05/08/2006
Devon Energy Corp., Oklahoma City, projects drilling of 800 wells in 5 years on Barnett shale acreage it will acquire from privately owned Chief Holdings LLC for $2.2 billion in cash.In a related transaction, Crosstex Energy LP, Dallas, plans to pay $480 million for Chief’s gas gathering pipelines and midstream assets in the Barnett shale producing region.Other recently announced upstream transactions include:• CNOOC Ltd. closed on its acquisition of a 45% interest in oil mining license (OML) 130 off Nigeria from South Atlantic Petroleum Ltd. (Sapetro) of Lagos (OGJ Online, Jan. 9, 2006).• Petrohawk Energy Corp. and KCS Energy Inc. agreed to merge in a $1.6 billion cas...
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