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Devon Energy Announces Strategic Acquisition in the Williston Basin and Expands Share-Repurchase Authorization by 67 Percent to $5 Billion

Vinson & Elkins advised Grayson Mill Holdings II, LLC and Grayson Mill Holdings III, LLC (together, “GM”), both private companies backed by EnCap Investments L.P. (“EnCap”), in GM’s sale to WPX Energy Williston, LLC, an affiliate of Devon Energy Corporation (“Devon”), of certain entities affiliated with GM holding oil and gas properties, rights and related assets located in the Williston and Powder River Basins for an unadjusted purchase price of $5.0 billion, subject to customary purchase price adjustments.

The Vinson & Elkins team was led by partner Bryan Loocke, counsel Elena Sauber and associate Drew Clements, with assistance from associates Brian Broussard, Destiny Alliniece and Rammy Allouche. Other key team members include partners Todd Way and Megan James, senior associate Dan Henderson and associate Ryan Dolmanet; partners Mike Marek, Jackson O’Maley, Matt Strock, senior associate David Lassetter, and associates Walt Baker, Rivers Stephens and Mimi Nguyen; partner David D’Alessandro, counsel Regina Ibarra and associate Cassandra Zarate; partner Becky Baker and associate Peter Goetschel; partner Hill Wellford, counsel Evan Miller and associate Rami Rashmawi; and partner Damien Lyster.

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