Devon Energy to Sell Eagle Ford Assets to Crescent Energy for $4.2 Billion

Key Facts

Devon Energy agreed to sell its Eagle Ford basin assets to Crescent Energy for $4.2 billion in a combination of cash and stock. Simply Wall St reported that the company plans to utilize the proceeds to accelerate its share repurchase program and reduce outstanding debt.

Devon Energy closed at $47.62 on November 3, 2026, while Crescent Energy closed at $13.01 on the same date. The divestiture allows the $55.9 billion operator to exit lower-priority fields and concentrate capital on high-return, long-duration acreage such as the Delaware Basin.

Devon Energy is scheduled to release its third-quarter results on November 5, 2026. The upcoming report is expected to clarify how repurchase activity tracks against the company's remaining $7.8 billion authorization following this transaction.