COMPANY NEWS: Devon to divest noncore assets; focus on N. America

11/23/2009
Devon Energy Corp., Oklahoma City, plans to divest its Gulf of Mexico and international assets in a move toward focusing on high-growth US and Canadian onshore assets, the company reported Nov. 16.The strategy, according to Devon Chairman and Chief Executive Officer J. Larry Nichols, will enable the company "to emerge with an even stronger balance sheet and one of the lowest overall cost structures" among its peers.In other recent company news:• Cameron International Corp. will be required to divest assets used in the production and sale of oil refining desalters before it proceeds with its $980 million acquisition of Natco Group Inc., the US Department of Justice said on N...
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