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Ex Rangers manager Washington apologizes for 'breaking wife's trust'

IRVING, Texas (AP) — Former Texas Rangers manager Ron Washington says he is embarrassed for 'breaking his wife's trust.'

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Troubled RadioShack files SEC form, talks with 'major vendor'

RadioShack Corp.’s latest filing with the U.S. Securities and Exchange Commission describes recent discussions that “could be beneficial to the financial restructuring of the company.”

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Road Show: City leaders prepare campaign to corral votes for $450 million arena

Fort Worth’s biggest backers of a new arena at the Will Rogers Memorial Center are leaving little to the chance of a “no” vote in a citywide election Nov. 4 to decide on new fees that would fund 15 percent of the $450 million project.

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Texas Health Southwest breaks ground on $40M expansion

A $40 million expansion of Texas Health Harris Methodist Hospital Southwest Fort Worth is under way, with groundbreaking ceremonies held this week.

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Overland Sheepskin opening Sundance Square store in Fort Worth

The store is expected to open by the holidays, Sundance said.

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Devon Energy buying Eagle Ford assets for $6B

 

NEW YORK (AP) — Devon Energy Corp. is buying oil-producing assets and other property in the Eagle Ford in Texas from GeoSouthern Energy for $6 billion.
 
Devon said Wednesday that the assets include current production of 53,000 barrels of oil equivalent per day and 82,000 net acres with at least 1,200 undrilled locations.
 
The acquisition includes acreage in DeWitt and Lavaca counties in Texas. The assets are expected to reach a peak production rate of about 140,000 barrels of oil equivalent per day.
 
Analysts say the GeoSouthern deal will give Devon a better balance between oil and natural gas.

Canaccord Genuity analyst Robert Christensen said oil currently accounts for 12 percent of Devon's total volume. "This deal would likely increase Devon's oil production by a significant amount, as GeoSouthern is the 4th largest oil producer in the Eagle Ford," he wrote in a note to clients.

GeoSouthern will continue to run its other assets in the Texas Gulf Coast region and other areas. Its corporate partner, The Blackstone Group, will exit its stake in the company as a result of the Devon transaction.

 
Devon plans to fund the deal with available cash and borrowings. The deal is expected to close in early 2014.
 
Devon's stock gained $1.12, or 1.8 percent, to $63.89 in morning trading.

 

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Arena
What do you think of the new plans for a new Will Rogers arena and changes at the Convention Center?