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DVN » Topics » Net Commercial Paper Borrowings

This excerpt taken from the DVN 10-K filed Feb 28, 2007.
Net Commercial Paper Borrowings
 
On June 29, 2006, we acquired Chief for $2 billion of cash and the assumption of $0.2 billion of liabilities. We funded a portion of the purchase price with $1.4 billion of borrowings issued under our commercial paper program. As a result of the Chief acquisition and success in other onshore U.S. locations, we accelerated certain oil and gas development activities into the last half of 2006. We borrowed an additional $0.4 billion of commercial paper to fund this accelerated development.
 
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