Houston-based Crescent Energy, which operates primarily in Permian, Eagle Ford and Uinta basins, said last week it agreed to purchase assets in Eagle Ford from Devon Energy for an estimated purchase price of $4.2 billion. The transaction adds Tier 1 inventory and scale directly adjacent to Crescent’s existing operations. The assets include 90,000 net acres in DeWitt, Gonzales and Karnes counties, 68,000 boed of net production (55-to-60 percent oil) and more than 600 Tier 1 net locations.
David Rockecharlie, CEO of Crescent, said Oct. 8, “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… We have built Crescent into a top 10 independent operator.”
Closing is expected in late 2026 or early 2027. Oil & Gas Journal said Crescent “will become the second largest Eagle Ford producer.” Crescent expects total production of about 400,000 boed, including about 170,000 b/d of oil. For Devon, the deal “reflects a broader effort to concentrate capital on its highest return Permian Basin opportunities.”
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