October 12, 2026 · Reporting through October 11th, 11:07 p.m. Central. Crescent priced a share offering expected to net $1.116 billion as it prepares to buy Devon’s Eagle Ford assets. Its preliminary model shows how the proposed acquisition could change the company’s debt.

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Houston-based Crescent Energy agreed to buy Devon Energy’s Eagle Ford assets for $4.22 billion in cash, subject to customary adjustments and closing conditions. The proposed purchase covers about 89,000 net acres, 97% operated, in Karnes, DeWitt, and Gonzales counties. Devon’s transaction release names the counties; Crescent’s October 8 filing gives the price and acreage. Crescent says the assets averaged 71,000 barrels of oil equivalent a day in the first half of 2026. Its preliminary prospectus reports the production period. The acreage lies beside Crescent’s existing South Texas operations. Crescent estimates $140 million in annual drilling, operating, and marketing synergies, a forecast rather than a reported saving. The company’s transaction announcement gives that estimate.

Crescent priced 80 million shares at $12.50 each, then underwriters exercised an option for 12 million more. The company expected the offering to close October 13 with $1,115.9 million in net proceeds. It said it would use the proceeds to temporarily reduce revolver borrowings while it prepared for the purchase. The offering is not contingent on the acquisition and can close even if the asset purchase does not. The October 9 filing describes the offering and its status.

At June 30, Crescent had $5.166 billion in debt. Its illustrative acquisition financing model shows $9.138 billion before equity-offering adjustments, not actual post-close debt. If the purchase closes, Crescent would add producing acreage beside its South Texas position, while the model points to a larger debt load than the company carried in June.

Blue Origin plans a Hutto campus for TeraWave and Quartz products, plus other satellite hardware. The company says the work will also support solar arrays, avionics, and telecommunications equipment. Hutto estimates a $650 million investment. Blue Origin has not disclosed its spending for the project. Hutto says Blue Origin committed to paid internships and career and technical education support with Hutto ISD. The campus remains a plan, with no announced operating date. Blue Origin’s announcement describes the planned work; Hutto’s notice gives the city’s estimate and school-program commitment.

Harbor Health agreed to acquire 27 Village Medical clinics in Greater Houston, with a close expected at year-end. The clinics serve Harris, Montgomery, Fort Bend, and Brazoria counties. Separately, Harbor plans to offer individual and family coverage in 13 Texas counties for 2027. The clinics will keep the Village Medical name and current accepted plans, Harbor says. Enrollment opens November 1, and coverage is scheduled to begin January 1, 2027. Harbor did not disclose the purchase price, and the agreement remains pending. Harbor’s announcement describes the clinic agreement and plan footprint.

Austin-based Nous Research says it raised $90 million to build Hermes for Businesses. Its announcement names NVIDIA, M12, Samsung, Robot Ventures, Union Square Ventures, Y Combinator, and Menlo Ventures among investors. The announcement does not say how much of the financing will support Texas operations or hiring. Nous’s funding note describes the raise and product. Axios identified the company as Austin-based.

Hines acquired the 1,476-acre Brown Ranch site in Fort Worth and plans about 3,800 homes and 70 commercial acres at full buildout. It names six builders, Trez Capital as capital partner, and Harvest Capital and TPG Credit as providers of acquisition and development financing. The land purchase is complete. The announcement gives no development schedule and does not describe binding commitments from the named builders. Hines’s announcement gives the land, builder, and financing details.

Insurance

TDI reports lower filed home and auto rates: The filings can inform household insurance decisions, but they do not show individual premium changes or business insurance costs.

Ports and logistics

Port Houston completes its Project 11 segments: The completed Port-led reach widened from 530 to 700 feet; some vessel benefits began in 2025, and Army Corps work continues.

Transportation

Volvo and Waabi start customer freight operations: The Volvo-Waabi partnership’s first customer operation moves freight on the Dallas-Houston corridor, with an observer in the driver’s seat.

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Jason Gould
Editor, The Texas Bell