BUZZ-Devon Energy falls after agreeing to buy Williston assets for $5 bln

Reuters07-08

** Shares of Devon Energy down 2.5% at $45.85

** Co to buy Grayson Mill Energy's Williston basin business in a cash-and-stock deal worth $5 billion

** The deal value includes $3.25 billion in cash and $1.75 billion in stock with DVN funding the cash portion with debt and cash on hand

** Says deal will add 307,000 net acres and would lift its production by about 100,000 barrels of oil equivalent per day

** Truist Securities analysts say that the purchase price appears to be on the higher side for deals outside the core area of Permian

** Including the session's losses, stock is up 1.2% YTD

(Reporting by Sourasis Bose in Bengaluru)

((Sourasis.bose@thomsonreuters.com))

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