BP Explores US Shale Expansion via Devon Energy Assets Before Walking Away

Key Facts

1BP entered a data room to review Devon Energy's Eagle Ford assets in South Texas.

2Devon's Eagle Ford position covers 90,000 net acres and produced 77,000 boepd in Q2.

3Reports indicate that BP ultimately walked away from the potential acquisition deal.

BP entered a data room to review Devon Energy's Eagle Ford assets in South Texas, Reuters reported. The potential acquisition involved assets covering approximately 90,000 net acres which produced 77,000 boepd in the second quarter, though reports indicate that BP ultimately walked away from the deal.

The exploration of these assets aligns with BP's strategic shift back toward oil and gas growth, aiming to bolster its US shale production capacity where its BPX Energy unit already produced 545,000 boepd in the second quarter. DVN closed at $48.90 on September 24, 2026, after reaching a day high of $49.71.