Devon Energy acquires 16,300 acres in Delaware Basin for $2.6 billion

Summary

Devon Energy has acquired 16,300 net undeveloped acres in the Delaware Basin for approximately $2.6 billion, adding about 400 net drilling locations. The acquisition enhances Devon's position in the region with favorable federal lease terms and is expected to be funded with cash on hand. This move follows a recent merger and is aimed at strengthening their asset portfolio.

Recent Coverage

• Devon’s Permian purchase to extend drilling inventory, cement top spot

  BOE Report • May 22

• Devon Energy acquires 16,297 acres in Delaware Basin in federal lease sale

  Permian Basin Petroleum Association Magazine • May 22

• Devon snaps up prime Delaware Basin acreage for $2.6 billion after Coterra merger

  Reuters Energy • May 21

• Devon Energy Doubles Down on the Delaware Basin with $2.6 Billion Federal Acreage Acquisition

  Oil & Gas Leads • May 21

• Devon snaps up prime Delaware Basin acreage for $2.6 billion after Coterra merger

  BOE Report • May 21