US EditionUS Shale Producers Coterra, Devon in Advanced Talks to Merge ...
Merger would create a $57-$60 billion shale company controlling 746,000 acres in the Permian Basin, aiming for major cost savings amid falling oil prices near $60 per barrel.
- On Thursday, Bloomberg News reported Devon Energy and Coterra Energy are in advanced merger talks that could create a $57B to $60B deal nearing completion.
- Falling oil prices toward $60 per barrel and a market glut linked to U.S. control of Venezuelan oil after Dictator Nicholas Maduro’s arrest pressure U.S. shale producers to consolidate.
- The combined company would control 746,000 Permian Basin acres, with Devon producing 853,000 boe/d and Coterra 785,000 boe/d in Q3 2025, enabling major operational cost cuts.
- Shares reacted quickly: Coterra rose 2.6% while Devon was up marginally, signaling the merger would better position the combined firm versus rivals.
- Coterra, formed in 2021 through the merger of Cabot Oil and Gas and Cimarex Energy, may face other suitors as talks near completion, with a deal potentially surpassing $57 billion, the largest in shale industry history.
14 Articles
14 Articles
A Devon and Coterra Merger Could Become One of the Largest Shale Oil Deals Ever
Quick Read Devon and Coterra merger talks could create a $57B to $60B deal, the largest in shale oil industry history. Oil prices falling toward $60 per barrel are pressuring shale producers to consolidate for economies of scale. The combined company would control 746,000 Permian Basin acres with adjacent properties enabling major operational cost cuts. Are you ahead, or behind on retirement? SmartAsset's free tool can match you with a finan…
Shale Producers Coterra and Devon Consider Merger
Jan 29 – U.S. shale producers Coterra Energy and Devon Energy could announce an agreement to merge as soon as next week, a source familiar with the matter said on Thursday. A possible combination would rank among the largest between U.S. energy producers in recent years. Both companies have operations across multiple shale formations, with both present in the Delaware portion of the Permian Basin in Texas and New Mexico and Oklahoma’s Anadarko B…
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