Jan. 15 at 6:50 PM
Coterra Energy and Devon Energy are in discussions about a potential all-stock merger that would combine two major U.S. shale producers into one of the country’s largest oil and gas companies, according to Bloomberg News Both firms have substantial operations in the Permian Basin, making the possible tie-up strategically significant amid ongoing consolidation in the U.S. energy sector
CTRA, with a market value of about
$21 billion, and ,DVN valued near
$23 billion, are still negotiating the structure and terms of a potential transaction, and sources cautioned that the talks may not lead to a final agreement. Other suitors could also emerge Market reaction has been mixed, reflecting investor caution toward “mergers of equals” in the volatile oil and gas industry. If completed, the deal would rank among the largest energy mergers in recent years, potentially reshaping the competitive landscape while delivering greater scale and operational synergies across key producing regions
$CTRA $DVN