Devon Plans Offshore Drilling

Tuesday, August 21, 2007
According to reports, Devon Energy Corporation and its partners are planning to invest at least $775m in exploration off the coast of Brazil. The company says Brazil appears to be a good place for business and the company will explore for oil and gas in eight areas it's bought in past Brazilian government auctions.

A company representative says it hasn't yet been determined how much of the $775 m Devon will provide. (Source: AP)

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