Devon Energy Corporation's subsidiary entered into a definitive agreement to sell approximately 90,000 net acres of oil and gas assets in the Eagle Ford basin to Crescent (Eagle Ford) LLC for $4.2 billion in cash. The transaction carries an effective date of July 1, 2026, with closing expected in the fourth quarter of 2026 or early 2027, subject to Hart-Scott-Rodino antitrust review and customary conditions. Proceeds will accelerate share repurchases and reduce debt. Devon Energy is a leading U.S. oil and gas producer.
