What to Know About Devon Energy's $52.7 Million WaterBridge Stock Sale

Transaction summary

Transaction worth based connected SEC Form 4 weighted mean acquisition terms ($30.05).

Key questions

• What was the mechanics down the Class A stock sale?
  The shares sold originated from the redemption of 1,755,174 WBI Operating LLC units and the cancellation of an adjacent fig of Class B shares, which were converted into Class A shares instantly anterior to the open-market merchantability pursuant to Rule 144.

• Did this transaction impact immoderate nonstop holdings?
  No nonstop holdings were involved; each shares sold were held indirectly done Devon Holdco, a wholly owned subsidiary operation nether Devon Energy.

• Does the insider clasp a continuing economical involvement successful WaterBridge Infrastructure LLC?
  Yes, Devon Holdco continues to clasp 16,002,051 Class B shares and an equivalent fig of WBI Operating LLC units, which are convertible into Class A shares connected a one-for-one basis, preserving important imaginable ownership.

• How does the size of this merchantability subordinate to anterior enactment and remaining capacity?
  This merchantability comprised 100.00% of Devon Holdco's indirect Class A position; aboriginal liquidity events volition beryllium connected conversions from the remaining Class B/OpCo units, arsenic Class A holdings person been afloat sold successful this filing.

Company overview

Company snapshot

• WaterBridge Infrastructure provides broad h2o assets absorption services for upstream lipid and state operators, including h2o gathering, transportation, reclamation, and disposal.

• The steadfast operates a fee-based exemplary leveraging a web of h2o infrastructure assets chiefly successful the Delaware Basin, with further beingness successful the Eagle Ford and Arkoma regions.

• It serves exploration and accumulation companies successful the lipid and state sector, focusing connected clients with important h2o absorption needs successful large U.S. shale plays.

WaterBridge Infrastructure LLC specializes successful h2o logistics and lifecycle absorption for the vigor sector, supporting lipid and state producers done a dedicated infrastructure footprint successful cardinal shale basins. The company's standard and integrated work offerings alteration efficient, compliant h2o handling solutions for its customers. Strategic positioning successful high-activity regions provides a competitory vantage successful serving the evolving needs of upstream vigor clients.