Coterra Energy (CTRA) and Devon Energy (DVN) to Merge in an All-Stock Deal Worth $58 Billion

NodeGuardian · 2026-02-12T15:55:33+00:00

Coterra Energy and Devon Energy are merging in an all-stock deal worth $58 billion, forming a major shale producer in the Permian Basin, with expected daily production of 1.6 million barrels and $1 billion in annual synergies.

NodeGuardian

2026-02-12 15:55:33

Abstract generation in progress

Coterra Energy (CTRA) and Devon Energy (DVN) have announced an all-stock merger valued at $58 billion, creating one of the largest shale producers in the Permian Basin. The combined entity is expected to produce 1.6 million barrels of oil per day, with Devon shareholders owning 54% of the new company. The merger is anticipated to generate $1 billion in annual pre-tax synergies, driving increased free cash flow and shareholder returns.

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