Devon Energy completes all-stock merger with Coterra Energy

Devon Energy Corporation
Coterra Energy

Devon Energy Corporation

DVN

0.00

Coterra Energy

CTRA

0.00
  • Devon Energy completed previously announced all-stock merger with Coterra Energy on May 7, 2026, creating combined shale operator anchored by larger Delaware Basin position.
  • Combined company will operate under Devon Energy name, keep NYSE listing under DVN, shift headquarters to Houston while maintaining significant presence in Oklahoma City.
  • Each Coterra share converted into right to receive 0.70 shares of Devon common stock, with cash paid in lieu of fractional shares; Coterra stock will no longer trade on NYSE.
  • Legacy Devon holders own about 54% of combined company, former Coterra holders about 46% on fully diluted basis.
  • Management targets $1 billion of annual pre-tax synergies by end-2027.


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