Form 8-K · Current report
Devon Energy 8-K, filed Oct 8, 2026
- Filed
- CIK
- 0001090012
- Accession no.
- 0001193125-26-417944
Summary
Devon Energy agreed to sell its Eagle Ford oil and gas assets in South Texas to Crescent Energy for $4.2 billion in cash, subject to customary purchase price adjustments. The transaction is expected to close in the fourth quarter of 2026 or early 2027, pending conditions including expiration of the Hart-Scott-Rodino antitrust waiting period; CEO Clay Gaspar said after-tax proceeds will fund accelerated share repurchases and debt reduction.
Key points
- The assets being sold comprise roughly 90,000 net acres in Karnes, DeWitt, and Gonzales Counties, Texas, about 4% of Devon's total BOE production.
- The agreement has a July 1, 2026 effective date and purchase price adjustments allocate revenues and expenses from that date.
- Devon said the divestiture lengthens its inventory life, lowers its corporate breakeven and reduces its base production decline rate.
- RBC Richardson Barr advised Devon financially and Kirkland & Ellis LLP served as legal advisor.
Written by an AI model from the filing text. It can be incomplete or wrong; the filing on SEC.gov is the record.
Items reported
- 7.01Regulation FD Disclosure
- 8.01Other Events
- 9.01Financial Statements and Exhibits
From the filing
Item 7.01 Regulation FD Disclosure. On October 8, 2026, Devon Energy Corporation (the “Company” or “Devon”) issued a press release announcing the Agreement, as defined and described in Item 8.01 below. A copy of the press release is attached hereto as Exhibit 99.1. The information in Item 7.01 of this Current Report and in Exhibit 99.1 is being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section. …
An excerpt of the text as filed with the SEC, cut for length.
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