US shale producers Devon, WPX Energy in merger talks

US shale producers Devon, WPX Energy in merger talks

A pump jack operates at a well site leased by Devon Energy Production Company near Guthrie, Oklahoma
A pump jack operates at a well site leased by Devon Energy Production Company near Guthrie, Oklahoma September 15, 2015. REUTERS/Nick Oxford

NEW YORK: U.S. shale producer Devon Energy is in talks to acquire rival WPX Energy in an all-stock transaction that would create a combined company worth around US$6 billion, people familiar with the matter said on Saturday.

The deal, which would value Tulsa, Oklahoma-based WPX at a small premium to its current share price, could be announced as soon as next week, according to one of the sources.

The sources requested anonymity as the talks are private. Devon and WPX did not immediately respond to requests for comment.

Source: Reuters

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