One-Page Deal Sheet
Penn Virginia Picks Up Eagle Ford Acreage from Devon; $205MM
Penn Virginia Corp Devon Energy Corp
Announced Date
July 31,2017
Effective Date
March 01,2017
Close Date
September 29,2017
Transaction Type
Property
Enterprise Value (EV)($MM)
205
Asset/Basin:
{"Eagle Ford Shale"}
TargetZones:
{"Eagle Ford Shale",
Net Acres
% Oil:
Net Operated Locations:
Location
Calculated Metrics( EV/Category)
Region
Gulf Coast - Southeast Texas
Country
United States
State
Texas
County
Lavaca
Play
Production Production
Production Mix
Calculated Metrics( EV/Category)
$/ Flowing
$/ Acre
$/Location
Transaction Details: Subscribe to see
Penn Virginia has agreed to acquire Eagle Ford assets from Devon Energy for $205 million. This deal increases Penn Virginia's core leasehold position by 35% and increases net production by approximately 30%. The acreage also has Austin Chalk upside.
Due to this deal, Penn Virginia is modifying development program by shifting one of the Company's drilling rigs to Area 2 predominantly in the acquired acreage.
Highlights:
- The assets are located in Lavaca County, TX
- 19,600 net contiguous acres (90% HBP)
- 3,000 BOEPD net production (64% oil)
This transaction closed on October 2, 2017.
Penn…| Announced Date | Buyer | Seller | Deal Value($mm) | Location | Category |
|---|---|---|---|---|---|
| Dec-27-2019 |
-  |
- |
Click here | Texas | E&P |
| May-11-2017 |
- |
- |
Click here | Texas | E&P |
| Feb-23-2017 |
- |
- |
Click here | Texas | E&P |
| Jan-25-2017 |
- |
- |
Click here | Texas | E&P |
| Nov-22-2016 |
- |
- |
Click here | Texas | E&P |
| Date | Deal Headline | Price | $/acre |
|---|---|---|---|
| Feb-18-2026 | SM Energy Sells Eagle Ford Asset for $950 Million | - |
- |
| Nov-12-2025 | Baytex Energy Exits United States in $2.305B Eagle Ford Divestiture | - |
- |
| Nov-03-2025 | Viper Energy Divests Non-Permian Mineral & Royalty Portfolio to Warwick Capital and GRP Energy for $617MM | - |
- |