DVN · News · 20260804N

Acquisition / Partnership / Divestiture

DEVON ENERGY CORP/DE · 2026-08-04 · Importance 71 · Surprise 60 · In source text

Devon Energy completed its merger with Coterra Energy, materially increasing production and broadening its U.S. oil and gas portfolio. Devon also acquired approximately 16,300 net acres in New Mexico’s Delaware Basin for $2.6 billion, adding roughly 400 premium drilling locations. Management is reviewing non-core assets, including operations in the Marcellus, Eagle Ford and Powder River basins, with an update expected in fall 2026. Potential divestitures could exceed $12 billion, according to third-party analysis, while the company targets more than $1 billion in pretax merger synergies by 2027.

Key facts

• Devon acquired 16,300 net acres in the Delaware Basin for $2.6 billion. source
• Pine Valley Investments Ltd Liability Co increased its stake in Devon Energy by 467.3% during the first quarter, adding 42,465 shares to own a total of 51,553 shares valued at approximately $2.59 million. source
• Glenmede Trust Co. NA increased its stake in Devon Energy by 75.7% in the first quarter, acquiring an additional 60,390 shares to bring its total holding to 140,155 shares valued at approximately $7.1 million. source

Impact estimates