> ## Content Index > Fetch the complete content index at: https://www.bullished.co/llms.txt > Use this file to discover other available public pages before exploring further. # Devon Energy Agrees To Sell Eagle Ford Assets To Crescent For $4.2 Billion Cash - URL: https://www.bullished.co/devon-energy-agrees-to-sell-eagle-ford-assets-to-crescent-for-4-2-billion-cash-06f230b1/ - Published: 2026-10-08T20:35:50.000Z - Updated: 2026-10-08T20:35:50.000Z - Description: Devon says after-tax proceeds will go to faster share buybacks and debt reduction; the sale covers about 4% of its total oil-equivalent production. - Author: Matteo Parrino - Tags: Deals, DVN, Industry: Energy Devon Energy agreed to sell its Eagle Ford assets in South Texas to Crescent Energy for [$4.2 billion in cash](https://www.sec.gov/Archives/edgar/data/0001090012/000119312526417944/d141547d8k.htm?ref=bullished.co), subject to purchase price adjustments, according to an 8-K filed Thursday. Devon says after-tax proceeds will go toward faster share buybacks and debt reduction. [{"subhead":"What the filing says","body":"The seller is Devon Energy Production Company, a wholly owned Devon subsidiary. The buyer is Crescent (Eagle Ford) LLC, a wholly owned subsidiary of Crescent Energy, under a purchase and sale agreement signed Thursday.\\n\\nThe assets cover about 90,000 net acres in Karnes, DeWitt and Gonzales Counties, Texas, and represent about 4% of Devon's total oil-equivalent production, according to the \[press release](https://www.sec.gov/Archives/edgar/data/0001090012/000119312526417944/d141547dex991.htm?ref=bullished.co). The adjustments include allocations of revenue and expenses based on a July 1, 2026 effective date.\\n\\nCrescent, in its own [announcement](https://markets.ft.com/data/announce/detail?dockey=600-202610080725BIZWIRE%5FUSPRX%5F%5F%5F%5F20261008%5FBW482210-1&ref=bullished.co), put its estimated net purchase price at about $3.85 billion and cited about $140 million in annual synergies. It said the acquired assets include about 68 thousand barrels of oil equivalent per day of net production."},{"subhead":"What it changes for Devon","body":"Devon says the price is accretive per share to free cash flow and net asset value, meaning it adds to both on a per-share basis. It also says the sale lengthens inventory life, lowers the corporate breakeven and reduces the base production decline rate.\\n\\nCEO Clay Gaspar said the deal came \\"a price above our internal hold case, including potential strategic upside.\\" He also said: \\"Selling a relatively mature asset into a strong commodity price environment improves our go-forward capital efficiency and allows us to accelerate share buybacks, strengthen our balance sheet and increase long-term value for shareholders.\\"\\n\\nGaspar tied the sale to other 2026 moves: combining with Coterra, adding Delaware Basin inventory in the federal lease sale, and investing in the Solitude pipeline. He called the deal \\"our strategy at work.\\"\\n\\nDevon shares closed at $48.92 in Thursday trading, up 2.17% (market data)."},{"subhead":"What to watch","body":"The filing says closing is expected in the fourth quarter of 2026 or early 2027, and requires expiration or termination of any Hart-Scott-Rodino antitrust waiting period. The press release says around year-end 2026.\\n\\nDevon will detail the impact on its outlook with third-quarter results on November 5, followed by a call and webcast on November 6."}\] The next hard numbers on how much of the proceeds go to buybacks versus debt reduction are due with Devon's third-quarter results on November 5. ### Sources - [8-K Filing — DEVON ENERGY CORP/DE (DVN)](https://www.sec.gov/Archives/edgar/data/0001090012/000119312526417944/d141547d8k.htm?ref=bullished.co) — SEC EDGAR - [Exhibit d141547dex991.htm — DEVON ENERGY CORP/DE 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0001090012/000119312526417944/d141547dex991.htm?ref=bullished.co) — SEC EDGAR - [Devon Energy Agrees to $4.2 Billion Eagle Ford Asset Sale - WSJ](https://www.wsj.com/business/energy-oil/devon-energy-sells-eagle-ford-assets-to-crescent-energy-for-4-2-billion-33e48b1c?eafs%5Fenabled=false&ref=bullished.co) — The Wall Street Journal - [Devon Energy Eagle Ford Sale to Boost Buybacks and Reduce Debt](https://www.benzinga.com/trading-ideas/movers/26/10/62253699/devon-energy-eagle-ford-sale-to-boost-buybacks-and-reduce-debt?ref=bullished.co) — benzinga.com - [Crescent Energy to Acquire Eagle Ford Assets from Devon Energy, Solidifying Crescent's World-Class Position in the Basin – Company Announcement - FT.com](https://markets.ft.com/data/announce/detail?dockey=600-202610080725BIZWIRE%5FUSPRX%5F%5F%5F%5F20261008%5FBW482210-1&ref=bullished.co) — Financial Times - [Devon Energy Announces Agreement to Exit the Eagle Ford for](https://www.globenewswire.com/news-release/2026/10/08/3377142/0/en/devon-energy-announces-agreement-to-exit-the-eagle-ford-for-4-2-billion.html?ref=bullished.co) — globenewswire.com