BUZZ - Devon Energy shares rise after the company agrees to sell Eagle Ford assets for $4.2 billions
路透社2026/10/08 12:26October 8 - Oil and gas producer Devon Energy (DVN.N) rose 2.65% in pre-market trading to $49.15. The company announced it would sell its Eagle Ford assets to Crescent Energy (CRGY.N) for $4.2 billions in cash. Devon's Eagle Ford assets include approximately 90,000 net acres in Texas, representing about 4% of its total oil equivalent production. This asset divestiture comes as the company, following its merger with Coterra Energy, faces investor pressure to streamline its asset portfolio and focus on its core Permian Basin business. The transaction is expected to be completed around the end of 2026. CRGY shares fell 2% to $13.20; the company also announced a $1 billions stock offering to raise funds for the DVN transaction. As of the previous trading day’s close, DVN shares had surged 30.71% year-to-date.
October 8 - ** Oil and gas producer Devon Energy DVN.N rose 2.65% in pre-market trading to $49.15
(link) ** The company stated it will sell its Eagle Ford assets for $4.2 billion in cash to Crescent Energy CRGY.N
** DVN's Eagle Ford assets include approximately 90,000 net acres in Texas, accounting for about 4% of its total oil-equivalent production
** This asset divestment comes as the company faces investor pressure to streamline its portfolio and focus on its core Permian Basin business after merging with Coterra Energy
** The transaction is expected to be completed around the end of 2026
** CRGY shares fell 2% to $13.20; the company also announced a $1 billion stock offering to raise the funds needed for the transaction with DVN
** As of the previous trading day's close, DVN has risen 30.71% so far this year
(To assist non-English speakers, Reuters has automatically translated its report into several other languages. Because automated translations may contain errors or lack required context, Reuters does not guarantee the accuracy of the automated translation text and provides it for reader convenience only. Reuters accepts no liability for any damage or loss arising from use of the automated translation feature.)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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According to media reports citing sources familiar with the matter, Starbucks has been working with advisors in recent months to explore potential acquisition plans targeting the US-based Mexican-style restaurant chain Chipotle Mexican Grill.
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