Devon Shopping Eagle Ford, Powder River; Marcellus Not on the List

Yesterday we told you that activist hedge fund Toms Capital wants Devon Energy to sell the whole company rather than a few pieces (see Activist Toms Capital Pushes Devon to Sell Itself; Marcellus in Play). It turns out Devon is already selling pieces. Reuters reported yesterday (Sept. 24) that Devon has put both its Eagle Ford asset in South Texas and its Powder River Basin acreage in Wyoming up for sale, and that British supermajor BP is looking closely at the Eagle Ford. What isn't on the list is the old Cabot Oil & Gas Marcellus position in Susquehanna County that Devon picked up when it bought Coterra Energy in May. For NEPA landowners, that's the most interesting part of the story.

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