What is Devon Energy considering doing with its Eagle Ford and Powder River assets, and how much could they be worth?

Devon Energy Corp. is exploring a sale of its Eagle Ford and Powder River shale assets as part of a portfolio streamlining effort, with the combined assets potentially fetching more than $4 billion, according to people familiar with the matter.

Why is Devon evaluating these asset sales, and what recent corporate action has intensified investor pressure for divestitures?

Devon is evaluating these asset sales to streamline its portfolio amid investor pressure to focus on its largest business in the Permian Basin following its $25 billion acquisition of Coterra Energy Inc. in February; analysts and major shareholders—including Kimmeridge Energy Management Co. and Toms Capital Investment Management—have criticized the pace of Devon’s divestment program, urging faster action to reduce portfolio diffusion and strengthen strategic focus.