Devon Energy buys 16,300 net Delaware Basin acres for $2.6 billion in BLM sale

Devon Energy Corporation

Devon Energy Corporation

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  • Devon Energy acquired 16,300 net undeveloped acres in the core of the Delaware Basin in Lea and Eddy counties, New Mexico, for USD 2.6 billion through a BLM oil and gas lease sale.
  • The purchase price equates to about USD 161,500 per net acre.
  • The acreage is expected to add about 400 net drilling locations normalized to 2-mile laterals, extending the company’s Permian inventory.
  • Federal lease terms include an 87.5% net revenue interest with 10-year terms across all depths, supporting projected low breakevens.
  • Funding is expected from cash on hand, with Devon maintaining its credit profile and cash-return framework, including its USD 8 billion share repurchase program.


Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Devon Energy Corporation published the original content used to generate this news brief via GlobeNewswire (Ref. ID: 202605210655PRIMZONEFULLFEED9724464) on May 21, 2026, and is solely responsible for the information contained therein.

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