A pair of divestitures would leave Devon focused on its core Delaware Basin acreage. The shares were little changed in premarket trading.
Alpha Score of 57 reflects moderate overall profile with strong momentum, weak value, moderate quality, moderate sentiment.
Devon Energy is exploring a sale of its Eagle Ford and Powder River Basin shale assets, a pair of divestitures that could bring in more than $4 billion combined, Bloomberg reported, citing people familiar with the matter.
The move is part of a broader portfolio review at the Oklahoma City-based producer. Selling the two positions would leave Devon focused on its core Delaware Basin acreage, the report said. The Eagle Ford assets, in South Texas, and the Powder River properties, in Wyoming, are non-core in a company that has been reshaping its holdings since the 2021 merger with WPX Energy.
Devon holds a 56 Alpha Score on AlphaScala, a Moderate label, within the Energy sector.
A sale process is in early stages and may not result in a transaction, the people told Bloomberg. Devon declined to comment on the report. The shares were little changed in premarket trading.
The divestitures would follow a pattern among U.S. shale producers who have been pruning non-core acreage to focus on the most productive basins. The Delaware portion of the Permian Basin has become the center of gravity for Devon and other operators who sold off more scattered holdings in recent years.
Drafted by a large language model from the source reporting linked above, then screened by automated publishing checks. It is not read by a journalist before publication. Some articles cite our Alpha Score. Verify prices and figures against the original source. Educational coverage, not personalized advice.