Devon Energy Corp. and Banpu Kalnin Ventures (BKV) recently amended the existing terms of their Barnett Shale purchase and sale agreement. Under the amended terms, Devon has agreed to sell its Barnett Shale assets to BKV for up to $830 million of total proceeds, consisting of $570 million in cash at closing and contingent payments of up to $260 million.

With the amended terms, Devon will receive an increased deposit of $170 million from BKV, and the scheduled closing date for the transaction has been extended to Dec. 31, 2020.