US Upstream week in brief: Devon divestiture, Cobalt cleanout, and lease sale lethargy

Prolific Barnett Shale acreage transacts as Devon announces an important asset sale. A private Barnett buyer could provide a signpost for what's to come with mature shale fields. Also, Cobalt's highly watched GoM assets have found new owners. Some assets represent risky developments, but the upside is alluring. On the other end of the GoM spectrum though, the 'largest lease sale ever' is scheduled for next week, but we struggle to see a huge level of interest. New Permian benchmarking metrics are available. ExxonMobil and Chevron delivered strong Permian messages at their respective analyst meetings. Two smaller players also provided much needed cost data on pads, facilities, and tank batteries. These costs move the needle on breakevens. We invite you to read why.