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Crescent Energy Buys Devon’s Eagle Ford Assets for $3.85B, Targets $140M in Synergies
The deal adds about 68,000 barrels of oil equivalent a day and more than 600 drilling locations as Devon shifts toward the Permian Basin.
- On Thursday, Devon Energy announced the sale of its Eagle Ford assets to Crescent Energy for $4.2 billion, subject to customary closing adjustments.
- Devon Energy CEO Clay Gaspar said selling the mature assets improves capital efficiency, enabling the company to accelerate share buybacks and strengthen its balance sheet following its $58 billion merger with Coterra Energy.
- The Eagle Ford assets span approximately 90,000 net acres across South Texas and include nearly 68,000 barrels of oil equivalent per day of production, plus more than 600 Tier 1 drilling locations.
- Crescent launched a $1 billion Class A common stock offering to finance the acquisition, with a KKR-affiliated shareholder expressing interest in purchasing up to $500 million of shares.
- Siebert Williams analyst Gabriele Sorbara noted the deal could create a funding overhang but appears accretive with successful integration and approximately $140 million in annual synergies expected.
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Crescent Energy Company (CRGY) Discusses Acquisition of Eagle Ford Assets and Strategic Operational Expansion Transcript
Crescent Energy Company (CRGY) Discusses Acquisition of Eagle Ford Assets and Strategic Operational Expansion October 8, 2026 8:00 AM EDTCompany...
·Ra'anana, Israel
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thecerbatgem.comCrescent Energy Buys Devon’s Eagle Ford Assets for $3.85B, Targets $140M in Synergies
Crescent Energy (NYSE:CRGY) said it has agreed to acquire Devon Energy’s Eagle Ford assets for a net purchase price of about $3.85 billion, a transaction the company expects to close in the fourth quarter of 2026 or early 2027, subject to customary conditions and regulatory approvals. Chief Executi
·Sioux Falls, United States
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Devon sheds Eagle Ford assets for $4.2 billion to deepen ...
·London, United Kingdom
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Total News Sources17
Leaning Left0Leaning Right1Center3Last UpdatedBias Distribution75% Center
Bias Distribution
- 75% of the sources are Center
75% Center
C 75%
R 25%
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