Locator: 52035CRESCENT.
Locator: 52035DEVON.
By the way, a recent RBN Energy article on Devon Energy selling its Eagle Ford assets to Crescent Energy is now available for a limited time over at RBN Energy without a password.
This is the article that begins:
Devon Energy is selling its Eagle Ford assets to Crescent Energy for $4.22 billion in cash in a deal expected to close around year-end 2026. The deal would take Devon out of the play and strengthen Crescent’s standing among the basin’s largest producers. In today’s RBN blog, we look at why Devon is heading for the exit while Crescent is doubling down and preview our detailed analysis of the deal, available on Novi Intelligence.
Let’s start with the assets Crescent Energy is buying, which have a somewhat complicated ownership and operating history. Devon Energy entered the Eagle Ford in 2014 with its roughly $6 billion acquisition of GeoSouthern Energy’s South Texas assets, primarily in DeWitt and Lavaca counties. The deal also brought Devon into an existing 50/50 development joint venture (JV) between GeoSouthern and Petrohawk Energy in the Blackhawk field in DeWitt County. Petrohawk was acquired by BHP in 2011, and BP acquired BHP’s U.S. onshore assets in 2018, making BPX Energy Devon’s partner in the venture. Under the unusual arrangement, BHP (and later BPX) handled drilling and completions, while Devon took over operations once wells began producing.
Full article, for a limited time, at the link above.
