Devon Energy, an independent energy company that is involved primarily in oil and gas exploration, agreed to acquire Williston Basin business of Grayson Mill Energy, a Houston-based energy exploration and production company, for $5bn. “The acquisition of Grayson Mill is an excellent strategic fit for Devon that allows us to efficiently expand our oil production and operating scale while capturing a meaningful runway of highly economic drilling inventory. This transaction also creates immediate value within our financial framework by delivering sustainable accretion to earnings and free cash flow that will result in higher distributions to shareholders over time,” Rick Muncrief, Devon Energy President and CEO.