Crescent Energy Company

Money Moves

Buying Devon's Eagle Ford assets; raised about $1.1 billion selling stock and syndicated a $1.5 billion term loan for the purchase

Crescent Energy agreed on October 8 to buy Devon Energy's Eagle Ford shale assets in South Texas for $4.2 billion in cash, about $3.85 billion net. Crescent plans to pay with a stock sale that grew to 92 million shares at $12.50 each, about $1.1 billion after fees, and a $1.5 billion five-year term loan.

Updated Oct 28