It’s Official: Devon Keeping NEPA Marcellus, Won’t Sell (For Now)

After six months of will-they-or-won't-they, we finally have an answer. Devon Energy is keeping its northeast Pennsylvania Marcellus assets, the old Cabot Oil & Gas (later Coterra) position centered on Susquehanna County. Devon wrapped up its post-merger "portfolio review" with its third-quarter 2026 update on Thursday. The only asset going out the door is the Eagle Ford in South Texas, which is being sold to Crescent Energy for $4.2 billion (see Devon Energy Sells Eagle Ford for $4.2B: Is the Marcellus Next?). The Marcellus, along with the Anadarko and the Rockies, now gets the label "complementary asset." Activist hedge fund TOMS Capital says it is "profoundly disappointed" and still wants Devon to sell the whole company. So is this story over? Not quite.

---

To view this content, log into your member account. (Not a member? Join Today!)