8-K/AOther Events

DEVON ENERGY CORP/DE 8-K/A Report (Dec 3, 2001)

Filed December 3, 2001For Securities:DVN

Summary

This Form 8-K/A filing from Devon Energy Corporation (DVN), dated December 3, 2001, serves as an amendment to a previous 8-K report filed on October 26, 2001, primarily to include crucial financial information related to its acquisition of Anderson Exploration Ltd. The amendment details the completion of the acquisition, which was initiated with an offer to purchase common shares on September 6, 2001, and successfully acquired approximately 97% of Anderson's shares by October 12, 2001. The full acquisition was completed by October 17, 2001, through a compulsory acquisition process for the remaining shares. The primary purpose of this filing is to provide investors with the historical consolidated financial statements of Anderson Exploration Ltd. and unaudited pro forma financial information reflecting the combined entity post-acquisition. This information is essential for investors to understand the financial impact and the pro forma performance of the newly combined Devon Energy. The total cost for Devon to acquire Anderson, including common shares and the intrinsic value of outstanding options and appreciation rights, amounted to approximately $3.5 billion.

Key Highlights

  • 1Devon Energy Corporation has completed its acquisition of Anderson Exploration Ltd. (Anderson) as of October 17, 2001.
  • 2The acquisition involved purchasing approximately 97% of Anderson's common shares by October 12, 2001, for C$40.00 per share, with the remaining 3% acquired through compulsory means.
  • 3The total cost of the Anderson acquisition for Devon Energy was approximately $3.5 billion.
  • 4This Form 8-K/A filing includes the historical consolidated financial statements of Anderson Exploration Ltd.
  • 5Unaudited pro forma financial information for the combined Devon-Anderson entity is also provided.
  • 6This amended filing supplements a previous 8-K filed on October 26, 2001, by providing detailed financial data relevant to the acquisition.

Frequently Asked Questions

This Form 8-K/A filing serves as an amendment to a previous report to include the historical consolidated financial statements of Anderson Exploration Ltd. and unaudited pro forma financial information of the combined Devon-Anderson entity. This provides investors with essential financial details following the acquisition.

The acquisition of Anderson Exploration Ltd. was completed by October 17, 2001. The total cost to Devon Energy for acquiring Anderson's outstanding common shares, options, and appreciation rights was approximately $3.5 billion.

Devon Energy offered to purchase each outstanding common share of Anderson Exploration Ltd., including associated rights, for C$40.00 per common share.

Devon Energy successfully acquired approximately 97% of Anderson's outstanding common shares by October 12, 2001. The remaining 3% were acquired through a compulsory acquisition process on October 17, 2001, effectively completing the takeover.