Devon Energy acquires 16,300 acres in Delaware Basin for $2.6 billion
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Devon Energy Enhances Permian Inventory in Federal Lease Sale
May 21, 2026 6:55 AM EDTHOUSTON, May 21, 2026 (GLOBE NEWSWIRE) -- Devon Energy Corporation (NYSE: DVN) announced the successful acquisition of 16,300 net undeveloped acres in the core of the Delaware Basin in Lea and Eddy Counties, New Mexico, for approximately $2.6 billion, or approximately $161,500 per net acre, through the Bureau of Land Management (BLM) Oil and Gas Lease Sale. This acquisition bolsters the premier Delaware Basin positions in the industry, extends inventory life, and is accretive to net asset value per share.
KEY HIGHLIGHTS
Acquisition adds approximately 400 net locations normalized to 2-mile laterals, with expected... More