NEW YORK Nov 19 Devon Energy is close to a deal to buy privately held GeoSouthern Energy for around $6 billion, according to a person familiar with the matter.
The deal could be announced as soon as this week, the source said. The source could not identified because the talks are private.
GeoSouthern Energy, based in The Woodlands, Texas, drills for oil and gas in the Austin Chalk and Eagle Ford geologic formations in South Texas.
Devon declined to comment. GeoSouthern was not immediately available for comment. The deal was originally reported in the Wall Street Journal.