Add as a preferred source on GoogleCrescent Energy Agrees to Buy Devon’s Eagle Ford Assets for $4.2B
The cash transaction adds Tier 1 inventory and scale next to Crescent’s existing Eagle Ford operations. Crescent Energy (CRGY) fell 2.4% in premarket trading Oct. 8.
Crescent Energy agreed to acquire Devon Energy’s Eagle Ford assets for about $4.2 billion in cash, adding Tier 1 inventory and scale next to its existing operations in the basin.
The transaction would make Crescent a larger Eagle Ford operator while giving Devon Energy (DVN) an asset sale.
Crescent Energy (CRGY) fell 2.4% in premarket trading Oct. 8 after the deal was announced.
The agreement follows Toms Capital Management’s push for Devon to explore strategic alternatives and simplify its portfolio.
John Kim
John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.