Devon Energy and Coterra merge in $58B deal to create US shale powerhouse | Invezz false### Choose your country### Choose preferred languagePopular languagesEnglish (USA) [Deutsch] [Español] [Français] [Português]All available languagesEnglish (USA) [English (UK)] [English (Australia)] [English (Canada)] [English (New Zealand)] [English (South Africa)] [English (Ireland)] [English (Singapore)] [English (Nigeria)] [English (Pakistan)] [English (India)] [eština] [Deutsch] [Dansk] [Español] [Français] [Italian ...

Core Viewpoint - Halper Sadeh LLC is investigating the fairness of the merger between Devon Energy Corporation and Coterra Energy Inc. for Devon shareholders, who will own approximately 54% of the combined company upon completion of the transaction [1]. Group 1: Legal Investigation - The investigation focuses on whether Devon and its board violated federal securities laws or breached fiduciary duties by not obtaining the best possible consideration for shareholders and failing to disclose all material information necessary for assessing the merger [3]. - Halper Sadeh LLC may seek increased consideration for shareholders, additional disclosures, and other relief related to the proposed transaction [4]. Group 2: Shareholder Rights - Devon shareholders are encouraged to learn more about their legal rights and options regarding the merger [2].

Core Viewpoint - Devon Energy is set to acquire Coterra Energy in an all-stock deal, aiming to enhance scale and competitiveness in the oil-and-gas sector, particularly in the Permian Basin, despite shareholder dissatisfaction due to a lower-than-expected purchase price [1] Group 1: Merger Details - The all-stock merger implies a combined enterprise value of $58 billion [1] - Devon shareholders will own 54% of the combined entity, while Coterra shareholders will hold 46% [1] Group 2: Market Reaction - Shares of both Devon and Coterra fell in early trading following the announcement of the merger [1] - The implied purchase price is below the last closing price of both companies' stocks, contributing to shareholder discontent [1]

格隆汇2月2日｜Devon Energy和Coterra Energy同意合并，这是一项价值约580亿美元的全股票交易（含 债务）。 ...

In this articleDVNCTRADevon Energy and Coterra Energy plan to merge in a $58 billion all-stock deal, including debt. (Courtesy Devon Energy)Devon Energy and Coterra Energy, the natural gas and oil exploration companies, plan to merge in a roughly $58 billion all-stock transaction. ...

The transaction is expected to close in the second half of 2026, the companies say. ...

Core Viewpoint - Devon Energy and Coterra Energy announced a merger to form a shale drilling giant valued at $58 billion, marking one of the largest transactions in the oil and gas industry in recent years [1][3]. Group 1: Merger Details - The merger was officially announced on a day when U.S. oil prices fell to a four-year low, putting pressure on the shale oil industry and prompting smaller companies to consider mergers to compete with larger rivals [1][3]. - Under the all-stock transaction agreement, Devon Energy shareholders will own 54% of the combined company, while Coterra Energy shareholders will hold 46% [1][3]. - This merger is the largest in the oil and gas sector to date, surpassing the previous record held by Diamondback Energy's $26 billion cash and stock acquisition of Endeavor Energy Resources [1][3]. Group 2: Industry Implications - Analysts speculate that the merger could trigger a wave of acquisitions in the U.S. oil and gas industry after a two-year lull in transactions [1][3]. - The combined company will become one of the largest shale oil producers in the U.S., with a significant market share in the oil-rich Delaware Basin [1][3]. Group 3: Production and Land Control - According to third-quarter production data from both companies, the merged entity will control 750,000 acres in the Delaware Basin, with an expected daily production of 863,000 barrels [2][4]. - The transaction is anticipated to be completed in the third quarter of this year, pending regulatory approval [2][4].

Devon & Coterra Transformative Merger February 2, 2026 Transformative Merger Creates Premier Shale Operator | Must-own, large-cap independent with $58 billion pro | • | Large-Cap Shale | forma enterprise value1 | | | | --- | --- | --- | --- | --- | --- | | Powerhouse | • | Resilience anchored by high-margin L48 portfolio & | balanced commodity mix | | | | • | Underpins over 50% of enterprise-wide production | | | | | | Franchise | and free cash flow | Delaware Asset | | | | | >10 years of highly competitive ...

Core Viewpoint - Devon Energy and Coterra Energy have announced a merger to create a leading shale operator with a combined enterprise value of approximately $58 billion [1] Group 1: Merger Details - The merger will result in a company with a pro-forma production exceeding 1.6 million barrels of oil equivalent (Boe) per day by the third quarter of 2025, including over 550,000 barrels of oil per day and 4.3 billion cubic feet of gas per day [2] - The new entity will be named Devon Energy and will be headquartered in Houston, while also maintaining a significant presence in Oklahoma City [2] - Coterra shareholders will receive a fixed exchange ratio of 0.70 share of Devon common stock for each share of Coterra common stock, resulting in Devon shareholders owning about 54% and Coterra shareholders approximately 46% of the combined company [4] Group 2: Operational Synergies and Efficiency - The merger is expected to generate $1 billion in annual pre-tax synergies [2] - The combined company will have the largest inventory in the Delaware basin with a breakeven cost below $40 per barrel, enhancing its drilling opportunities [3] - The new entity will also exhibit top-tier capital efficiency across various basins, including Permian, Anadarko, Eagle Ford, Marcellus, and the Rockies [4] Group 3: Timeline and Approvals - The transaction has been unanimously approved by the boards of directors of both companies and is expected to close in the second quarter of 2026, pending regulatory approvals and customary closing conditions [5]

Note: See appendix for non-GAAP. 1) As of 1/30/2026. 2) Gross operated inventory locations per Enverus, divided by gross operated wells spud in 2025. 3) Subject to board approval. 4) Pro forma, as of 9/30/2025. Liquidity assumes $3.0 bn revolver remains outstanding. 5) Source: Factset consensus. | 2 Devon & Coterra Transformative Merger February 2, 2026 Transformative Merger Creates Premier Shale Operator | Must-own, large-cap independent with $58 billion pro | • | Large-Cap Shale | forma enterprise value1 ...