Devon to Sell Shale Oil Assets to Crescent for $4.2 Billion
Deals·2 articles across 2 outlets
Story updated Rewritten when the story materially grows; the wire is checked every 15 minutesAbout this data
Devon Energy Corp. agreed to sell its drilling portfolio in the Eagle Ford shale basin of South Texas to Crescent Energy Co., an oil producer backed by KKR & Co., for about $4.2 billion.
This transaction marks a significant move for both companies as Devon continues to streamline its operations while Crescent expands its footprint in the lucrative shale oil sector.
Devon EnergyCrescent EnergyKKR
Sources
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“Devon Energy Corp. agreed to sell its drilling portfolio in the Eagle Ford shale basin of South Texas to Crescent Energy Co., an oil producer backed by KKR & Co., for about $4.2 billion.”
Bloomberg — Devon to Sell Shale Oil Assets to Crescent for $4.2 Billon