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Devon Energy acquires 16,300 acres for $2.6 billion
PUBLIC · DVNMay 21, 2026•about 2 months ago
Acquiring Company
Devon Energy
Acquired Company
N/A
BostonBowmansvilleEnergyOil And GasSoftwareConstructionBuilding Maintenance
Description
Devon Energy Corporation has acquired 16,300 net undeveloped acres in the Delaware Basin for $2.6 billion, enhancing its resource position. The acquisition adds approximately 400 net drilling locations and is funded with cash on hand. CEO Clay Gaspar highlighted the strategic value and potential profitability of the acquisition. This transaction is seen as a continuation of Devon's growth strategy following its recent merger.
Company Information
Company
Devon Energy
Location
West Sheridan Avenue
Boston, Massachusetts, United States
About
Devon Energy is a leading oil and gas producer in the U.S. with a premier multi-basin portfolio headlined by a world-class acreage position in the Delaware Basin. Devon’s disciplined cash-return business model is designed to achieve strong returns, generate free cash flow and return capital to shareholders, while focusing on safe and sustainable operations. For more information, please visit www.devonenergy.com.
Boston