Crescent Energy said on 8 October 2026 that it had agreed to acquire Devon Energy's Eagle Ford assets for US$4.22bn in cash, or an estimated net US$3.85bn after adjustments.
Why Crescent Energy Company is buying Devon Energy Eagle Ford assets
Crescent said the assets sit directly alongside its existing operations and minerals holdings, adding Tier 1 inventory that immediately competes for capital, with about US$140m of annual synergies identified across drilling, operating costs and marketing.
Deal terms and financing
The agreement has an economic effective date of 1 July 2026 and is subject to customary price adjustments. Crescent plans to fund it with cash on hand and a mix of debt and equity, backed by a bridge facility commitment of up to US$2.0bn.
Regulatory approvals and timing
Closing is expected in the fourth quarter of 2026 or early 2027, subject to customary closing conditions and regulatory approvals.
Market context
The deal builds on Crescent's earlier Eagle Ford acquisition of Ridgemar and its December 2025 merger with Vital Energy, and Crescent said its longstanding minerals ownership across the acquired acreage gave it differentiated insight into the assets.
