Asset icon - trade crypto, stocks, and gold on Pluang
Trade on Pluang
One platform for all markets
Download

Devon Energy buys 16,300 acres in Delaware Basin for $2.6B, boosting drilling inventory and value.

Company Fundamentals
21 May 2026
GlobeNewsWire
View Source
Bullish
pluang ai news

Devon Energy acquired 16,300 net undeveloped acres in the Delaware Basin, New Mexico, for about $2.6 billion through a federal lease sale. This purchase adds roughly 400 drilling locations with favorable terms like high net revenue interest and contiguous acreage, enabling cost-efficient development. The acquisition strengthens Devon's position in the Delaware Basin, extends inventory life, and is expected to increase net asset value per share. Funding will come from cash on hand, supporting Devon's ongoing $8 billion share repurchase program.

More News (DVN)

banner-footerbanner-footer

Invest & Trade with
#1 Award-Winning Investment Super App