Devon Deal May Be More Attractive on Paper Than in Reality

Devon Energy  recently announced it was buying GeoSouthern's Energy Corp's Eagle Ford assets for $6 billion. Devon has been a company in transition in recent years and investors have been waiting for the company to open its wallet and bolster its position in shale. However, I'm not as giddy on the deal as others. My issue with the move is really two-fold: Did Devon overpay for the assets, and is the company late to the shale boom? 

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