Linklaters Represents BP In $7B Oil Deal With Devon

By Brendan Pierson

Law360, New York (March 11, 2010, 3:15 PM ET) -- Devon Energy Corp. has agreed to sell its assets in Brazil, the Gulf of Mexico and Azerbaijan to BP PLC for $7 billion and to buy into a joint venture to develop oil sands in Canada with the British oil giant for $500 million, the companies announced Thursday.

The deals, which remain subject to regulatory approval, are part of a plan Devon revealed in November to shift its focus to on-shore operations in the U.S. and Canada, it said.

The assets Devon is selling include 10...
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