Mergers & AcquisitionsMedium•8 October 2026•
1 min read
Crescent Energy to Acquire Devon Energy Assets for $3.85 Billion
Key Facts
1Crescent Energy agreed to acquire Devon Energy's Eagle Ford assets for $3.85 billion.
2Crescent Energy plans to launch a $1 billion stock offering to fund part of the acquisition.
Crescent Energy agreed to acquire Devon Energy's Eagle Ford assets for $3.85 billion. Investing.com reported that the company plans to launch a $1 billion stock offering to fund a portion of the acquisition, marking a significant expansion in the shale region.
The deal enables Devon Energy to exit its Eagle Ford position while Crescent Energy increases its footprint through a combination of cash and equity financing. This move occurs amid heightened M&A activity in the energy sector, though the equity offering may place short-term pressure on Crescent shares due to dilution.