Is Devon’s Marcellus Next? One Wall Street Analyst Says Yes

Ten days ago, after Devon Energy agreed to sell its Eagle Ford assets for $4.2 billion, we asked whether the Marcellus would be next (see Devon Energy Sells Eagle Ford for $4.2B: Is the Marcellus Next?). One Wall Street analyst now says yes, and maybe soon. On Friday (Oct. 16), energy analyst Elliott Gue upgraded Devon's stock to "Strong Buy" in a detailed piece on the Seeking Alpha investor website. He thinks the old Cabot/Coterra Marcellus position in Susquehanna County is one of the two likeliest assets on the chopping block, along with the Powder River Basin in Wyoming. He even floats the idea of a deal before or around Devon's Nov. 5 earnings release. His article also has some useful new numbers on just how big Devon's Marcellus business is. We break it down below.

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