Devon Energy to Acquire Coterra Energy for $21.4 Billion in Stock, Creating One of Largest US Shale Producers
ByAinvest
Monday, Feb 2, 2026 8:59 am ET1min read
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Devon Energy Corp. agreed to acquire Coterra Energy Inc. for $21.4 billion in stock, creating one of the largest oil and natural gas deals in years. The combined company will have pro-forma third quarter output of over 1.6 million barrels per day of oil equivalent and will be the biggest US shale producer. Devon CEO Clay Gaspar will remain CEO after the deal closes and the company will keep its name.
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