Devon Boosts Share Offer to $1.3 Billion on Investor Support

Updated on
  • Plan takes U.S. drillers' 2016 equity-raising to $4.6 billion
  • Proceeds to be used to pay down debt and fund spending

Devon Energy Corp. will raise about $1.3 billion by selling shares, joining at least six other U.S. oil and gas companies to tap Wall Street equity investors this year to weather the slump in energy prices.

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