BP Walked Away From a Potential $4.5 Billion Bet on Devon Energy's Eagle Ford Shale. Here's What It Means for BP and DVN Stock.
Energy investors were abuzz with this week's news that activist investors in Devon Energy (NYSE: DVN) might push the company to sell off some of its assets, or even the entire company. That buzz got even louder when BP (NYSE: BP) was rumored to be a potential buyer for one of Devon's shale assets. But today, in a move that sent Devon's shares downward, Reuters reported that BP apparently walked away from the deal. Here's what investors need to know. Continue reading