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Devon Energy Announces Agreement with Dow to Develop STACK Acreage

Vinson & Elkins advised Devon Energy Corp. in connection with its agreement with Dow to jointly develop a portion of the company’s STACK acreage in central Oklahoma. Under this agreement, Devon will monetize half of its working interest in 133 undrilled locations in exchange for approximately a $100 million drilling carry over the next four years.

The V&E corporate team was led by partner Mingda Zhao with assistance from partner John B. Connally, senior associate Emery Choi and associates Michael Zarcaro, Robert Vezina and Torie Berkowitz. Also advising were partners Todd Way and Gary Huffman and associates Emily Fawcett and Tanner McClellan; counsel Damien Lyster and associate Andrew DeVore; and partner Larry Nettles.

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