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US Shale Producers Devon Energy and Coterra Energy in Merger ...
The proposed all-stock merger aims to create a top-tier Permian Basin shale producer with a combined market value of about $44 billion, boosting scale amid lower crude prices.
- Updated Jan. 15, 2026, Oklahoma City-based Devon Energy and Houston-based Coterra Energy are exploring an all-stock merger, with sources saying talks are early-stage and not guaranteed.
- With crude around $60 a barrel, two midsize operators are exploring an all-stock deal as softer prices and Venezuelan supply uncertainty pressure the Permian Basin market.
- Coterra Energy's roughly $20 billion valuation and Devon Energy's $24 billion size mean the combined company would rank among Permian top producers, with Delaware Basin consolidation cutting costs and cleaning operations.
- Putting neighboring Delaware Basin acreage under one roof would reduce per-well costs and streamline operations, and economies of scale would help operators in the Permian control costs amid price pressures, supporting capital and execution.
- The deal would rank among the largest in recent years, signaling renewed megadeal-scale consolidation as a Permian `land grab` and market pressures in coming years shape future deals.
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12 Articles
Devon-Coterra Tie-Up Would Create a New Permian Heavyweight
Coterra Energy is kicking the tires on what would be one of the biggest U.S. shale mergers in years, holding talks about a possible combination with Devon Energy, according to people familiar with the matter. Nothing is signed, nothing is guaranteed, but the market liked the idea enough to send shares of Coterra Energy sharply higher on the day. The deal would be a classic all-stock shale mashup: two midsize operators with large footprints in th…
·London, United Kingdom
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Report: OKC-based Devon Energy in merger talks with Coterra Energy
·Oklahoma City, United States
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Coverage Details
Total News Sources12
Leaning Left2Leaning Right2Center3Last UpdatedBias Distribution43% Center
Bias Distribution
- 43% of the sources are Center
43% Center
L 29%
C 43%
R 28%
Factuality
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