Devon Energy to form midstream natgas master limited partnership
NEW YORK, June 6
NEW YORK, June 6 (Reuters) - Devon Energy Corp said on Thursday it plans to form a master limited partnership (MLP) to hold a stake in its U.S. natural gas gathering and processing assets.
The MLP is expected to initially hold a minority stake in the oil and gas company's so-called midstream business, which includes assets in Texas, Oklahoma and Wyoming. Devon will own the general partner of the MLP.
The company expects the MLP to file a registration statement with the Securities and Exchange Commission in the third quarter.
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