3 Dec 2020director interest notice● Neutral
DEVON ENERGY CORP/DE SVP-Chief Accounting Officer Jeremy D. Humphers acquired 1,500 shares and disposed of 3,000 in a set of related equity transactions.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
24 Nov 2020securities registration● Neutral
DEVON ENERGY CORP/DE filed the final prospectus for a registered offering.
20 Nov 2020merger communication● Neutral
Devon told employees the WPX merger's SEC review was progressing and the deal was now expected to close in January 2021, earlier than the original first-quarter 2021 target.
20 Nov 2020business combination● NeutralMajor
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.
13 Nov 2020merger communication● Neutral
Devon and WPX's merger integration teams finalized their structure and detailed post-closing task plans.
12 Nov 2020merger communication● Neutral
Devon's CEO discussed the pending WPX merger at an industry investor conference; the transcript added no new deal terms.
6 Nov 2020merger communication▲ Good
Devon and WPX cleared U.S. antitrust review (HSR Act) for their merger and filed the joint SEC registration/proxy statement needed to bring the deal to a shareholder vote.
5 Nov 2020business combination● NeutralMajor
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.
4 Nov 2020merger communication● Neutral
Devon's leadership gave employees a video update on third-quarter results and merger integration progress, describing a still-challenged commodity price environment.
30 Oct 2020merger communication● Neutral
Devon and WPX selected McKinsey as their outside merger-integration partner and formed a steering committee to oversee integration planning.
30 Oct 2020quarterly activities report▼ Bad
DEVON ENERGY CORP/DE reported quarterly revenue of $1067.0 million and a net loss of $92.0 million for the period ended 2020-09-30.
30 Oct 2020merger communication● Neutral
Devon held its third-quarter 2020 earnings call; the transcript was filed as a merger communication but added no new information about the WPX deal.
29 Oct 2020merger communication● Neutral
Devon reported its third-quarter 2020 financial and operating results, filed under merger-communication rules because of the pending WPX deal.
29 Oct 2020quarterly activities report▼ Bad
DEVON ENERGY CORP/DE reported quarterly revenue of $1067.0 million and a net loss of $92.0 million for the period ended 2020-09-30.
23 Oct 2020merger communication● Neutral
Devon and WPX named the executives leading their merger integration planning and outlined initial workstreams.
7 Oct 2020merger communication● Neutral
Devon issued internal guidance for employees on how to respond to vendor questions about the pending WPX merger, instructing staff to say it is business as usual pending closing.
6 Oct 2020substantial holder notice● Neutral
Devon Energy Corporation disclosed a new substantial DEVON ENERGY CORP/DE shareholding (27.30% of votes).
2 Oct 2020merger communication● Neutral
Devon's and WPX's CEOs held a joint employee town hall discussing the pending merger, introducing the two leadership teams to staff.
2 Oct 2020asset acquisition disposition▲ GoodMajor
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.
29 Sept 2020merger communication● Neutral
Devon filed copies of its social media posts announcing the WPX Energy merger, as required when a company communicates publicly about a pending stock deal.
29 Sept 2020merger communication● Neutral
Devon's CEO recorded a video message discussing the newly announced WPX Energy merger - a public-relations filing with no new deal terms.
28 Sept 2020merger communication● Neutral
Devon re-filed the same WPX Energy merger agreement announced that day as a Rule 425 merger-communication filing, a procedural duplicate required by SEC rules once a stock-for-stock merger is announced.
28 Sept 2020business combination▲ GoodMajor
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.
28 Sept 2020merger communication● Neutral
Devon filed an internal announcement to employees about the newly announced WPX Energy merger, repeating the deal's strategic rationale with no new terms.
3 Sept 2020director interest notice● Neutral
DEVON ENERGY CORP/DE SVP-Chief Accounting Officer Jeremy D. Humphers acquired 18,525 shares and disposed of 20,025 in a set of related equity transactions.
5 Aug 2020quarterly activities report▼ Bad
DEVON ENERGY CORP/DE reported quarterly revenue of $394.0 million and a net loss of $670.0 million for the period ended 2020-06-30.
4 Aug 2020quarterly activities report▼ Bad
DEVON ENERGY CORP/DE reported quarterly revenue of $394.0 million and a net loss of $670.0 million for the period ended 2020-06-30.
5 June 2020agm notice● Neutral
DEVON ENERGY CORP/DE shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
4 June 2020director interest notice● Neutral
DEVON ENERGY CORP/DE director John Krenicki received 18,371 shares as part of the equity award.
4 June 2020director interest notice● Neutral
DEVON ENERGY CORP/DE director Robert A Mosbacher Jr. received 18,371 shares as part of the equity award.