Mergers & Acquisitions ·
Crescent Energy agrees to acquire Devon EF assets for $4.22B in cash
CRGYCrescent Energy Co
Crescent Energy Company entered into a definitive agreement to acquire certain Eagle Ford assets from Devon Energy Production Company, L.P., for a purchase price of $4.22 billion in cash. The transaction is expected to close in the fourth quarter of 2026 or early 2027, subject to customary closing conditions and regulatory approvals. Crescent obtained a debt commitment letter from JPMorgan Chase Bank, N.A. for a bridge credit facility of up to $2.0 billion to finance the acquisition. The acquired assets include approximately 89 thousand net acres with average net production of 56 MBoe/d in 2025 and proved developed reserves valued at $1.4 billion (PV-10). Crescent Energy Company is an independent oil and natural gas company focused on high-margin, oil-weighted production in the Eagle Ford, Permian, and Uinta Basins.