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Oil report

U.S. shale producer Devon Energy to buy rival WPX

Sept 28 (Reuters) - U.S. shale producer Devon Energy Corp said on Monday it would buy peer WPX Energy Inc in an all-stock deal that would create a combined company worth around $12 billion.

WPX shareholders will receive 0.5165 shares of Devon common stock for each share of WPX common stock owned, the companies said in a statement. (Reporting by Shruti Sonal in Bengaluru; Editing by Maju Samuel)

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