NYSE:CTRAOil and Gas
Coterra Devon All Stock Merger Reshapes Shale And Valuation Story
Coterra Energy (NYSE:CTRA) has agreed to merge with Devon Energy in an all stock transaction valued at $58 billion.
The combined company will operate under the Devon Energy name and will create a larger U.S. shale producer with a broader asset base.
Both companies’ boards unanimously approved the deal, which is positioned as a scale and efficiency play across key shale basins.
Coterra Energy comes into this deal with its shares at $30.56 and a multi year track record that includes a 115.0%...