Crescent Energy to Acquire Eagle Ford Assets from Devon Energy, Solidifying Crescent’s World-Class Position in the Basin
Business Wire•08/10/2026•07:25 ET
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Key Highlights
- ➤Crescent Energy (CRGY) to acquire Devon Energy Eagle Ford assets for approximately $3.85 billion
- ➤Acquired assets include approximately 68 Mboe/d net production and over 600 Tier 1 locations
- ➤Approximately $140 million in annual D&C, LOE and marketing synergies identified
- ➤Transaction expected to close in fourth quarter 2026 or early 2027
- ➤Crescent plans balanced cash, debt and equity financing while pursuing investment-grade credit
Expert Statements
David Rockecharlie, Chief Executive Officer of Crescent Energy
“This acquisition represents a significant step forward for Crescent, adding high-quality assets at an attractive valuation in the heart of one of our core operating areas,”
David Rockecharlie, Chief Executive Officer of Crescent Energy
“We know these assets exceptionally well through our longstanding minerals ownership and nearby operations, and see meaningful opportunity to make them even better.”
David Rockecharlie, Chief Executive Officer of Crescent Energy
“The transaction solidifies Crescent’s world-class Eagle Ford position and creates significant additional value creation opportunities through our proven operating strategy.”
Crescent Energy to Acquire Eagle Ford Assets from Devon Energy, Solidifying Crescent’s World-Class Position in the Basin
High-margin, oil-weighted production and significant Tier 1 inventory adjacent to existing operations
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