Latham Represents Crescent Energy on Its Net US$3.85 Billion Acquisition of Devon Energy's Eagle Ford Assets

Crescent Energy Company (NYSE: CRGY) has announced that it has entered into a definitive agreement to acquire Eagle Ford assets from Devon Energy for an estimated net purchase price of approximately US$3.85 billion. The Transaction solidifies Crescent’s world-class Eagle Ford position, adding Tier 1 inventory and meaningful scale directly adjacent to its existing operations. The acquired assets will be managed with Crescent’s consistent strategy focused on free cash flow, disciplined capital allocation and attractive returns. The Transaction is expected to close in the fourth quarter of 2026 or early 2027, subject to customary closing conditions.

Latham & Watkins LLP advised Crescent Energy on the transaction with an oil and gas M&A deal team led by Houston/Austin partner Chris Heasley, with associates Nate Guerra, Jesse Fontaine*, Tanner Jarrell, and Brock Jones. Advice was also provided on M&A matters by Houston partner James Garrett; on tax matters by Houston partners Bryant Lee, Christine Mainguy, and Chicago partner Benjamin Rosemergy, with associates Peter Dalmasy and Graham Core; on executive compensation, employment and benefits matters by Chicago counsel Laura Waller, with associates Alexis Grinstead and Juliet Rognlie; on environmental matters by Los Angeles/Houston partner Joshua Marnitz, with associate Nolan Fargo; on antitrust matters by Washington, D.C. partners Peter Todaro and Jason Cruise; on copyright matters by Washington, D.C. partner Elizabeth Park; and on litigation matters by Austin partner Shayne Henry.

*Admitted to practice in Canada only.