Story perspectives

BP Walks Away From $3.5B–$4B Eagle Ford Deal

By Drooid · Sep 26, 2026, 2:15 AM UTC · How we work

Summary

Story summary

BP walked away from a potential purchase of Devon Energy’s Eagle Ford shale assets in South Texas.
BP’s offer was $3.5-$4 billion, while TPH Research valued the assets at $4.5 billion.
BPX Energy produced roughly 205,000 barrels of oil equivalent per day from Eagle Ford in Q2.
Devon’s shares fell 3.6% and BP’s shares slipped 0.4% after the walk-away news.

History

Historical Context

In April 2010 the Deepwater Horizon blowout off the Gulf of Mexico sparked the largest U.S. environmental settlement, with BP agreeing in April 2016 to pay $20.8 billion in fines and penalties after a 2012 $4.5 billion DOJ settlement. The payout reshaped BP’s strategy, and the company now proposes a $3.5-$4 billion offer for Devon Energy’s Eagle Ford assets.

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Story summary

BP walked away from a potential purchase of Devon Energy’s Eagle Ford shale assets in South Texas.
BP’s offer was $3.5-$4 billion, while TPH Research valued the assets at $4.5 billion.
BPX Energy produced roughly 205,000 barrels of oil equivalent per day from Eagle Ford in Q2.
Devon’s shares fell 3.6% and BP’s shares slipped 0.4% after the walk-away news.

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