It’s already completed a big Lower 48 takeover this year, but Devon Energy Corp. isn’t ruling out making a bid on more oil and natural gas assets, the CEO said Wednesday.

Devon Permian

Over the last couple of weeks, rumors have swirled that Royal Dutch Shell plc may sell its Permian Basin portfolio, estimated to be worth up to $10 billion. The potential suitors mentioned include Chevron Corp., ConocoPhillips and Devon. 

There was no mention by Shell executives about a Permian sale during the recent quarterly conference call. Devon CEO Rick Muncrief didn’t take the bait when he was quizzed about it during the 2Q2021 conference call. 

“Fundamentally, we continue to have a very, very high bar,” Muncrief said. Devon in January completed a mega-merger with the company he formerly...