Devon Energy dominates record $4 billion US government oil and gas auction
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Devon Energy dominated a record $4 billion U.S. government auction for oil and gas drilling rights in New Mexico and Texas, securing over half of the total bids. The sale, reflecting strong industry demand, surpassed the previous record of $972 million in 2018. Devon won 25 parcels for $2.5 billion, including the highest price ever paid for a single parcel at $405.8 million. The auction highlights the impact of the Trump administration's energy policies on U.S. energy production.
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