Devon Energy agrees to sell Eagle Ford assets to Crescent Energy for $4.2 billion cash
DVN•Devon Energy agreed to sell its Eagle Ford assets to Crescent Energy for $4.2 billion in cash, subject to closing adjustments. The deal is expected to close around year-end 2026.
1. Asset sale details
The package includes about 90,000 net acres in Karnes, DeWitt and Gonzales counties, Texas, and represents about 4% of Devon’s total BOE production. The transaction has an effective date of July 1, 2026, and is subject to customary conditions and approvals. Devon plans to use after-tax proceeds for accelerated share repurchases, debt reduction and balance sheet strengthening.
