Devon Energy and Coterra to Merge, Creating $58 Billion Shale Oil Producer

Deep News

02/04

In early trading on Tuesday, Devon Energy (DVN) rose 0.9% and Coterra Energy (CTRA) climbed 1.6%, following the announcement of an all-stock merger between the two companies. The deal will create a $58 billion shale oil producer focused on the Delaware Basin within the Permian. The combined entity will be headquartered in Houston.

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