will the midcon asset survive, and if so what is the point of holding such an asset in the portfolio? - A holding corral for employees to be trained in and moved to more significant assets?
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@OP Unfortunatley, no it shouldn't survive as DVN the operator. The huge acreage/asset belongs to a smaller, more regionally focused operator like Flywheel, Validus, or Mach Resources, who would all most likley retain many of the OKC based emplyees who support the asset. If Gaspar only announces Eagle Ford, Powder and even Marcellus and elects to keep Bakken and Anadarko in addtion to the Delaware (obviously), he will be punished harshly by Kimmeridge, TOMS Capital and even the other large institutional investors who all want to maximize their investments in Devon. It could turn into an ugly public battle for Gaspar and the BOD, which could cost them millions.