Crescent Energy to Acquire Devon Energy's Eagle Ford Assets for $4.2 Billion

Key Facts

1Crescent Energy agreed to purchase Devon Energy’s Eagle Ford basin assets in a deal valued at $4.2 billion.

Crescent Energy agreed to purchase Devon Energy’s Eagle Ford basin assets in a deal valued at $4.2 billion. SeekingAlpha reported that the transaction is an all-cash deal, allowing Crescent Energy to add Tier 1 inventory and meaningful scale directly adjacent to its existing operations. The agreement represents a strategic exit for Devon Energy from the Eagle Ford region.

CRGY closed at $13.47 on October 7, 2026, while DVN closed at $47.88 on the same date. The acquisition enables Crescent Energy to significantly expand its footprint in the shale sector, while Devon Energy aims to streamline its portfolio and realize significant cash value from the asset sale.