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Carl Icahn

Devon Cuts $75M Deal With DowDupont

May 15, 2018
Devon Tower in downtown Oklahoma City.
Brian Hardzinski / KGOU

A commodity hedge deal between Oklahoma City-based energy company Devon and  petrochemical/agriculture giant DowDupont could be a sign of a new trend.

The Journal Record’s Sarah Terry-Cobo writes the deal will provide “low-risk cash” to Devon, and DowDupont will receive natural gas that will be used to produce plastics, chemicals and other products.

The $75 million deal will last 5 years, according to the Journal Record.

SandRidge Energy headquarters in Oklahoma City.
Brent Fuchs / The Journal Record

In an effort to move forward with the purchase of a Colorado-based energy company, SandRidge Energy issued a so-called “poison pill” Monday to stave off efforts by an activist investor to block the deal.