DEVON ENERGY CORP/DE

Devon completed its all-stock merger with Coterra Energy, converting each Coterra share into 0.70 Devon shares; the combined company operates as Devon Energy (NYSE: DVN) under CEO Clay Gaspar, headquartered in Houston with a continued Oklahoma City presence, as a large-cap shale operator anchored in the Delaware Basin.

business combination

Amendment No. 1 to the registration for Devon's merger with Coterra Energy, setting both special meetings for May 4, 2026 off a March 27 record date. The terms are 0.70 Devon shares per Coterra share, leaving Devon holders with about 54% of a company roughly twice its present size, with Evercore's fairness opinion behind Devon's board, an $865 million break fee either way, and a Devon charter amendment on the same ballot.

business combination

Devon registered the shares for an all-stock merger with Coterra Energy at 0.70 Devon shares per Coterra share, splitting the combined company roughly 54/46 in Devon's favour -- by far the largest combination in Devon's history and a second merger of near-equals five years after WPX.

business combination

Devon agreed to merge with Coterra Energy in an all-stock deal, with Coterra shareholders receiving 0.70 Devon shares per Coterra share; the combined company - to be named Devon Energy and headquartered in Houston while keeping a presence in Oklahoma City - would have about $58 billion of pro forma enterprise value and target $1 billion in annual pre-tax synergies.

business combination

DEVON ENERGY CORP/DE terminated the registration of a class of securities, ending its reporting obligation for them.

listing compliance notice

Devon completed its all-stock merger of equals with WPX Energy on January 7, 2021, and registered a small batch of shares issuable to former WPX employees under stock options that Devon assumed in the deal.

business combination

Amendment No. 1 to the registration for Devon's all-stock merger with WPX Energy, at a fixed 0.5165 Devon shares per WPX share. Between the September 26 announcement and this November filing the implied value had risen from $4.53 to $6.59 a WPX share as oil recovered; Devon holders end with about 57% and WPX holders 43%, EnCap has already signed a support agreement to vote its WPX stake in favour, and either side pays a $75 million break fee if it walks.

business combination

Devon registered the shares for its all-stock merger with WPX Energy at a fixed 0.5165 Devon shares per WPX share, leaving Devon holders with about 57% of the combined company and WPX holders 43%. A merger of near-equals struck in the depths of the 2020 price collapse.

business combination

Devon closed the renegotiated sale of its Barnett Shale gas assets to Banpu Kalnin Ventures, receiving $490 million net (including an earlier deposit) plus rights to up to $260 million in future earnouts, completing its multi-year exit from Canada, the Barnett and EnLink to focus solely on U.S. oil.

asset acquisition disposition

Devon agreed to combine with WPX Energy in an all-stock "merger of equals," with WPX shareholders receiving 0.5165 Devon shares for each WPX share; Dave Hager was set to become executive chairman and WPX's Rick Muncrief the new president and CEO of the combined company.

business combination

Devon agreed to sell its Barnett Shale gas assets in Texas to Banpu Kalnin Ventures for $770 million, the final divestiture completing its multi-year shift to an all-U.S.-oil portfolio, and authorized a new $1 billion share buyback.

material agreement

Devon closed the sale of its Canadian business to Canadian Natural Resources, receiving net proceeds of about USD $2.6 billion earmarked for debt repayment - completing Devon's transformation into a U.S.-only oil growth company, with only its Barnett Shale gas assets still to be divested.

asset acquisition disposition

Devon agreed to sell essentially all of its remaining Canadian oil and gas business to Canadian Natural Resources for CAD $3.775 billion (about USD $2.8 billion), completing its exit from Canada to focus entirely on U.S. oil.

material agreement

Devon closed the $3.125 billion sale of its EnLink Midstream interests to Global Infrastructure Partners, ending its consolidation of EnLink's results and completing its exit from the midstream pipeline business it helped create in 2014.

asset acquisition disposition

Devon agreed to sell its entire ownership stake in EnLink Midstream to an affiliate of Global Infrastructure Partners for $3.125 billion, a deal expected to cut Devon's debt by 40%, and raised its share-buyback authorization to $4 billion.

material agreement

Devon raised roughly $1.5 billion selling nearly 79.4 million new shares at $18.75 each, a large equity issuance during the 2016 oil-price downturn aimed at shoring up its balance sheet.

material agreement

Devon closed its roughly $6 billion purchase of Eagle Ford Shale oil assets in Texas from GeoSouthern Energy, adding 82,000 net acres of high-return drilling acreage funded with cash and new debt.

asset acquisition disposition