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BRIEF-Devon Energy and Coterra Energy to Combine

Reuters
Feb 02
BRIEF-Devon Energy and Coterra Energy to Combine

Feb 2 (Reuters) - DEVON ENERGY CORP:

  • DEVON ENERGY CORP - DEAL IMPLIES ENTERPRISE VALUE OF ABOUT $58 BILLION

  • DEVON ENERGY CORP - COTERRA SHAREHOLDERS TO RECEIVE 0.70 DEVON SHARES PER SHARE

  • DEVON ENERGY CORP - CLAY GASPAR TO SERVE AS PRESIDENT AND CEO

  • DEVON ENERGY CORP - MERGER EXPECTED TO REALIZE $1 BILLION IN ANNUAL SYNERGIES

  • DEVON ENERGY CORP - COMBINED COMPANY WILL BE NAMED DEVON ENERGY

  • DEVON ENERGY CORP - TRANSACTION, WHICH WAS UNANIMOUSLY APPROVED BY BOARDS OF DIRECTORS OF BOTH COMPANIES, IS EXPECTED TO CLOSE IN Q2 OF 2026

  • DEVON ENERGY- PLANNED QTRLY DIVIDEND OF $0.315 PER SHARE AND NEW SHARE REPURCHASE AUTHORIZATION EXCEEDING $5 BILLION, BOTH SUBJECT TO BOARD APPROVAL

  • DEVON ENERGY CORP - TOM JORDEN WILL ASSUME ROLE OF NON-EXECUTIVE CHAIRMAN OF BOARD OF COMBINED CO

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