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Devon to Sell $4.2 Billon Shale Oil Assets to Crescent Energy

Bloomberg Markets Thursday 08 October 2026, 11:17 UTC By David Wethe and David Carnevali 1 min read
Key Points

Devon to Sell $4.2 Billon Shale Oil Assets to Crescent Energy Devon Energy Corp. agreed to sell its drilling portfolio in the Eagle Ford shale basin of South Texas to Crescent Energy Co., an oil producer backed by KKR & Co., for about $4.2 billion. Crescent will pay cash for the assets, which include about 90,000 net acres in Karnes, DeWitt, and Gonzales counties, Devon said in a statement Thursday. Bloomberg reported earlier that Devon and Crescent were in advanced talks.

Devon to Sell $4.2 Billon Shale Oil Assets to Crescent Energy Devon Energy Corp. agreed to sell its drilling portfolio in the Eagle Ford shale basin of South Texas to Crescent Energy Co., an oil producer backed by KKR & Co., for about $4.2 billion. Crescent will pay cash for the assets, which include about 90,000 net acres in Karnes, DeWitt, and Gonzales counties, Devon said in a statement Thursday. Bloomberg reported earlier that Devon and Crescent were in advanced talks.
Devon (PERSON) Crescent Energy Devon (ORG) Crescent Energy Devon Energy Corp. (ORG) Eagle Ford (ORG) South Texas (LOCATION) Crescent Energy Co. (ORG) KKR & Co. (ORG) Crescent (ORG) Karnes (LOCATION) DeWitt (ORG) Gonzales (PERSON) Bloomberg (PERSON) Devon and Crescent (ORG)
Originally published by Bloomberg Markets Read original →

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