Devon Energy Corp (DVN) announced a pre-salt oil discovery on block BM-C-32 in the Campos Basin, offshore Brazil. This initial exploratory well on the Itaipu prospect was drilled to a total depth of 16,240 feet and encountered approximately 240 feet of oil column, at least 90 feet of net oil pay and no oil/water contact. Devon operates the well with a 40-percent working interest.
Devon's partners in block BM-C-32 include Anadarko Petroleum Corporation with a 33.3-percent working interest. SK Energy Co., Ltd. holds the remaining 26.7-percent working interest.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.