Linklaters Represents BP In $7B Oil Deal With Devon

Law360, New York (March 11, 2010, 3:15 PM EST) -- 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...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.