Devon Energy Acquires Eagle Ford Assets From GeoSouthern for $6 Billion

82,000 Net Acres and 53,000 boe/d in DeWitt and Lavaca Counties
Devon Energy Eagle Ford Acreage Map

Devon Energy Eagle Ford Acreage Map – 82,000 net acres | Click to Enlarge

Devon Energy has agreed to acquire GeoSouthern Energy’s Eagle Ford assets for $6 billion in cash.

The deal includes 82,000 net Eagle Ford acres in DeWitt and Lavaca counties, with associated production of 53,000 boe/d.

Current production is 56% oil, 20% NGLs, and 24% natural gas.

The properties hold an estimated resource potential of 400 million boe.

Devon has an average 50% interest in the properties and a 38% net revenue interest.

“With this transaction, we have secured a premier acreage position in the very best part of the world-class Eagle Ford oil play. This acquisition enhances our already strong North American portfolio by adding another low-risk, light oil asset that provides outstanding well economics and self-funded growth,” said John Richels, CEO.

There is at least one producing well in each owned unit in DeWitt County and Devon expects EURs as high as 800,000 boe. The company estimates a drilling inventory of 1,200 locations and has a joint development agreement with BHP Billiton.

Devon expects annual growth of 25% from the assets for the next several years, with an ultimate peak of 140,000 boe/d.

The deal will be funded with cash on hand and borrowings.

Read the full press release at

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R.T. Dukes

R.T. Dukes

Managing Editor at
R.T. is the managing editor of In prior roles, he advised major oil companies on strategy, the macro business environment, and opportunity screening. 2503 Robinhood, Houston, TX, 77005, U.S.A. | Telephone: 832.429.4790


  1. R.T. Dukes R.T. Dukes says:

    Lots of talk about a record price per acre. It’s near impossible to value a deal on the basis of price per acre alone when it is producing.

    The price paid for non-producing acreage was likely in the range of $20,000-25,000.

    • william n hickey says:

      i am trying to find any recent lease bonus amounts paid for acreage in the Cotulla Texas area, within a 10 mile radius of Cotulla, any suggestions of where i can find this

    • Kirk Eggleston Kirk Eggleston says:

      Hi William,

      Check out the county groups section on

  2. Will BHP operate?

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