BP has also studied other oil heavy assets in the $2B to $5B range as it shifts strategy back toward traditional energy according to sources. This reversal follows several years of prioritized investment in renewables and a period of leadership instability that saw 5 chief executives in the company since 2020.
Wednesday, October 21, 2026
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BP Abandons $3.5B to $4.5B Devon Energy Shale Deal
Business26 days ago
The British oil major has decided not to proceed with the purchase of Devon Energy's South Texas operations after reviewing its holdings in the Eagle Ford shale basin. The assets were valued at roughly $3.5B to $4.5B, and the potential acquisition was part of a push by CEO Meg O'Neill to grow the company's presence in U.S. onshore oil production.
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