Devon Energy to spend $1 billion in Eagle Ford

Devon Energy to spend $1 billion in Eagle FordOklahoma City-based Devon Energy Corp. plans to invest $1.1 billion into the Eagle Ford Shale in 2014, according to company officials. The company has plans to drill 200 wells in the region this year.Last month, Devon sold the majority of its Canadian conventional assets to Canadian Natural Resources Limited for $2.8 billion and they intend to use the proceeds to repay the debts incurred for the Eagle Ford shale expansion, officials say.Devon Energy acquired 82,00 net acres in the Eagle Ford Shale from Geo Southern Energy for $6 billion in late February.