Crescent Energy to acquire Devon Eagle Ford assets for ~$3.85B; adds 68 Mboe/d and 600+ Tier 1 locations

Crescent Energy Co

Purchase price $4.22B cash per the October 8, 2026 purchase and sale agreement with Devon (NYSE: DVN); press release cites estimated net price ~$3.85B after adjustments.
Adds ~68 Mboe/d net production (July 2026 run-rate 68 MBoe/d), 89k net acres 97% operated, 152 MMBoe proved reserves (79% oil/liquids), 600+ Tier 1 net locations.
Bridge credit facility up to $2.0B from JPMorgan Chase Bank dated Oct 8, 2026 funds the all-cash deal; closing expected Q4 2026 or early 2027 pending regulatory approvals.
Pro forma reserves rise to 1,127.3 net MMBoe (63% liquids) from 975.5 net MMBoe; combined NYMEX PV-10 $13.5B vs Crescent standalone $10.5B.
2026 capex guided ~$1.75B including Devon assets; 2025 Adjusted EBITDAX $2.1B; pro forma for Transactions Adjusted EBITDAX $4.1B and net loss $373.6M.

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