Devon Energy Corp. is putting its Utica shale properties in Ohio up for sale, ShaleOhio reports.
The offering from Scotia Bank says in part: "The Scotia Waterous (USA) Inc. ('Scotia Waterous') has been retained as exclusive advisor by Devon Energy Corporation ('Devon' or the 'Company') to advise and assist in the sale of the Company’s Utica Shale / Point Pleasant assets in Eastern Ohio (the 'Offering'). The Utica / Point Pleasant play is currently in the early stages of appraisal and development. Regional well results are promising and there is growing confidence in the prospectivity of the play given very significant leasing and drilling activity.
"This Offering provides an opportunity to acquire a material leasehold position within the prolific Utica / Point Pleasant play. The Offering consists of approximately 244,000 gross acres (195,000 net) in eastern Ohio across in the liquids-prone portion of the play. The acreage is largely held by existing production (existing production is not included in this offering) with significant upside development potential in the Guernsey County area."
The offering is available here.