Devon Energy And Coterra Create Shale Giant With $58 Billion Merger | Investor's Business DailyBREAKING: [Futures Off Lows, Bitcoin Dives To Lowest Since 2024]---Devon Energy (DVN) and Coterra Energy (CTRA) announced before Monday's stock market open they will merge in an all-stock transaction, which will create a shale oil and gas giant valued at about $58 billion. The two companies said Monday that the new entity will be named Devon Energy and headquartered in Houston. The merger is expected to bring abou ...

Devon Energy and Coterra Energy agreed to merge in a roughly $58 billion all-stock deal, including debt. ...

Coterra Energy and Devon are combining to create a US shale producer with an enterprise value of about $58 billion, one of the largest oil and natural gas deals in years https://t.co/ifPJRWOIzv ...

Core Viewpoint - U.S. shale producers Devon Energy and Coterra Energy are merging in a $58 billion all-stock deal to form one of the largest independent shale producers in the United States [1] Company Summary - The merger will combine the strengths of both companies, enhancing their operational capabilities and market presence in the shale industry [1] - The all-stock nature of the deal indicates a strategic move to consolidate resources and improve financial stability [1] Industry Summary - This merger reflects a trend in the shale industry towards consolidation as companies seek to optimize production and reduce costs amid fluctuating oil prices [1] - The creation of a larger independent shale producer may impact competition and market dynamics within the U.S. energy sector [1]

Core Viewpoint - Devon Energy and Coterra Energy have announced a definitive agreement to merge in an all-stock transaction, creating a leading large-cap shale operator with a strong asset base in the Delaware Basin [1][2] Transaction Details - Coterra shareholders will receive a fixed exchange ratio of 0.70 shares of Devon common stock for each share of Coterra common stock, implying a combined enterprise value of approximately $58 billion based on Devon's closing price on January 30, 2026 [4] - Upon completion, Devon shareholders will own approximately 54% and Coterra shareholders will own approximately 46% of the combined company [4][5] Transaction Benefits - The merger is expected to unlock $1 billion in annual pre-tax synergies, enhancing free cash flow and shareholder returns [2][8] - The combined company will have pro forma production exceeding 1.6 million barrels of oil equivalent (Boe) per day, including over 550 thousand barrels of oil per day and 4.3 billion cubic feet of gas per day [12] - The Delaware Basin will account for more than 50% of the combined company's total production and cash flow, supported by over 10 years of top-tier inventory [12] - The transaction is expected to be accretive to key per-share financial measures, including free cash flow and net asset value [8][12] Governance and Leadership - The board of directors will consist of 11 members, with six from Devon and five from Coterra, and Clay Gaspar will serve as President and CEO [9] Advisors - Evercore is the financial advisor for Devon, while Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC are financial advisors for Coterra [10]

Market Movements - US stock index futures are all down, with Dow futures down 0.32%, S&P 500 futures down 0.37%, and Nasdaq futures down 0.49% [1] - European indices show positive movement, with Germany's DAX up 1.04%, UK's FTSE 100 up 0.45%, France's CAC40 up 0.76%, and the Euro Stoxx 50 up 1.04% [2][3] - WTI crude oil is down 0.61% at $65.02 per barrel, while Brent crude oil is down 0.73% at $69.08 per barrel [3][4] Market News - Trump's nomination of Kevin Warsh for the Federal Reserve chair may face hurdles due to ongoing investigations, with some Republican senators indicating they will block nominations until legal issues are resolved [5] - The financial market perceives Warsh as a more hawkish candidate compared to current chair Powell, potentially leading to tighter monetary policies [5] - Gold and silver prices have seen significant declines, with gold dropping over 5% to $5,099 per ounce and silver down over 12% to $101.4 per ounce, raising concerns about the sustainability of recent price increases [6] - The temporary agreement between Trump and Senate Democrats aims to prevent a government shutdown, although further negotiations are ongoing [6] Investment Strategies - Bank of America indicates that global stock markets are flashing sell signals, with 89% of MSCI stock index prices above their 50-day and 200-day moving averages, surpassing the 88% threshold considered a sell signal [7] - Jeff Gundlach, known as the "new bond king," advises avoiding the US market due to high inflation and a weakening dollar, recommending a 30%-40% allocation to non-US stocks, particularly emerging markets [8] Company News - Apple reported record Q1 earnings of $143.8 billion, a 16% year-over-year increase, driven by a 23% increase in iPhone revenue to $85.3 billion, with significant growth in the Greater China region [9] - Apple CEO Tim Cook announced a partnership with Google to develop a more personalized Siri, while also warning of supply constraints due to 3nm chip production limitations [10] - Sandisk's Q2 revenue is projected to grow 61.2% to $3.03 billion, exceeding market expectations, with a strong performance in data center and consumer segments [11] - Western Digital reported a 25% increase in revenue to $3.02 billion, with net profit surging 296%, driven by AI infrastructure demand [12] - KLA Corporation's Q2 revenue grew 7.2% to $3.3 billion, benefiting from AI infrastructure expansion, but concerns about valuation risks have emerged [13] - Visa's Q1 adjusted earnings were $3.17 per share, a 15% increase, with total payment volume reaching $3.87 trillion, exceeding expectations [14] - ExxonMobil's Q4 adjusted net profit was $1.71 per share, driven by increased oil production and refining margins, while Chevron's Q4 adjusted earnings were $1.52 per share, with plans for production growth [15][16] - Coterra Energy and Devon Energy are reportedly in talks for a potential merger, which could be one of the largest oil and gas deals in recent years [17]

（原标题：?近年来油气行业最大合并倒计时? 传二叠纪巨头Coterra(CTRA.US)与戴文能源(DVN.US)酝 酿并购） Piazza补充表示："由于资产多元使得难以向投资者包装成一个清晰的主题，因此精简整合最优质资源 最为可行。" 戴文能源公司在二叠纪盆地一片钻探规模快速增长的区域——被称为特拉华盆地(Delaware Basin)，拥 有大约40万净英亩的权利;Coterra在该区域也拥有34.6万英亩的持仓。此外，Coterra在马塞勒斯页岩 (Marcellus Shale)也拥有大规模资产。 Kimmeridge Energy Management Co.是一家长期以来直言不讳的油气投资机构，在两家公司均持有股份; 其已表态支持潜在的双方联姻，使合并后的公司能够聚焦其二叠纪特拉华盆地资产。 合并对双方而言都是有利的结果 智通财经APP获悉，媒体援引知情人士透露的消息报道称，美国二叠纪油气巨头Coterra Energy Inc. (CTRA.US)与戴文能源公司(DVN.US)正在就合并进行深入谈判;若达成，这将成为近年来全球规模最大 的油气领域并购交易之一。知情人士表示，两家油气巨头可能在未 ...

智通财经APP获悉，媒体援引知情人士透露的消息报道称，美国二叠纪油气巨头Coterra Energy Inc. (CTRA.US)与戴文能源公司(DVN.US)正在就合并进行深入谈判;若达成，这将成为近年来全球规模最大 的油气领域并购交易之一。知情人士表示，两家油气巨头可能在未来几天内宣布并购交易。知情人士补 充称，双方尚未作出任何最终决定，时间安排可能变化，谈判也可能破裂。该交易将加强他们在西得克 萨斯州和新墨西哥州二叠纪盆地的市场领先地位，使他们拥有更大的规模，更好地与埃克森美孚等竞争 对手们进行竞争。 周四在纽约股票市场，并购利好消息催化之下Coterra股价一度上涨4.6%，使该公司市值一度高达约220 亿美元。戴文能源公司股价一度上涨3.7%，市值一度高达260亿美元。 双方关于并购的最新讨论表明，在2025年相对低迷之后，美国大型油气钻探商们正迫切希望通过整合实 现油气资源集中化。该交易将强化它们在得克萨斯州西部与新墨西哥州二叠纪盆地(Permian Basin)的能 源主导地位——这是美国规模最大且产量最高的油气田，并购成功之后的实体将获得更庞大油气市场规 模，以便更好地与埃克森美孚公司(XOM ...

Coterra Energy and Devon Energy could announce an agreement to merge as soon as next week, in what would be the largest oil and gas deal in the U.S. shale industry in almost two years, a source famili... ...

Coterra Energy and Devon Energy are in advanced talks about a combination, according to people familiar with the matter, in what would be one of the largest oil and gas deals in years https://t.co/wCGN4MKaso ...