Devon Energy agrees to sell Eagle Ford assets to Crescent Energy for $4.2 billion cash
Bitget2026/10/08 11:10Crescent Energy agreed to buy Devon Energy’s Eagle Ford assets for USD 4.2 billion in cash, subject to closing adjustments. Package includes about 90,000 net acres in Karnes, DeWitt, Gonzales counties, Texas; about 4% of Devon’s total BOE production. Effective date July 1, 2026; closing expected around year-end 2026, subject to customary conditions and approvals. Devon plans to use after-tax proceeds for accelerated share repurchases, debt reduction, balance sheet strengthening. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Devon Energy Corporation published the original content used to generate this news brief via GlobeNewswire (Ref. ID: 202610080710PRIMZONEFULLFEED9841979) on October 08, 2026, and is solely responsible for the information contained therein.
- Crescent Energy agreed to buy Devon Energy’s Eagle Ford assets for USD 4.2 billion in cash, subject to closing adjustments.
- Package includes about 90,000 net acres in Karnes, DeWitt, Gonzales counties, Texas; about 4% of Devon’s total BOE production.
- Effective date July 1, 2026; closing expected around year-end 2026, subject to customary conditions and approvals.
- Devon plans to use after-tax proceeds for accelerated share repurchases, debt reduction, balance sheet strengthening.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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