Devon Energy has agreed to sell its 50% stake in a Canadian oil pipeline to Wolf Midstream for $1.4 billion. Via the Financial Post, Devon could get an additional $150 million from the deal pending the completion of a thermal oil project on a lease it owns in Alberta. Devon CEO Dave Hager said the sale completes a $3.2 billion divestiture program undertaken to pay down debt amid the oil market downturn. The deal is expected to close in the third quarter.
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