December 18, 2019 / 10:09 PM / a month ago

Devon Energy to book $650 mln-$750 mln charge tied to Barnett asset sale

Dec 18 (Reuters) - U.S. oil and gas producer Devon Energy Corp said bit.ly/2ExoNWW on Wednesday it expects to take a non-cash pretax charge of $650 million to $750 million in the fourth quarter related to the sale of its assets in the Barnett shale in north Texas.

The company said on Tuesday it had agreed to sell the assets to Banpu Kalnin Ventures for $770 million and also announced a new $1 billion share repurchase program. (Reporting by Shradha Singh in Bengaluru; Editing by Maju Samuel)

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