Devon Energy and Dow to form a joint venture to develop STACK Acreage.

Devon Energy, a company engaged in hydrocarbon exploration in the United States, and Dow, an American commodity chemical company, agreed to form a joint venture to develop STACK Acreage. Financial terms were not disclosed. 'This innovative agreement is consistent with our strategy to optimize the capital efficiency and returns associated with our development programs. Dow is a world-class organization and this mutually beneficial agreement will help us bring forward value in the STACK, while delivering carry-enhanced returns that compete effectively for capital within our portfolio," Dave Hager, Devon President and CEO.