DVN · News · 20260808N

Acquisition / Partnership / Divestiture

DEVON ENERGY CORP/DE · 2026-08-08 · Importance 71 · Surprise 60

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.

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