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Mergers & AcquisitionsMediumUpdated×3•Originally published 4 May 2026•Updated 6 May 2026•

1 min read

Devon and Coterra Shareholders Approve All-Stock Merger to Create Shale Giant

Key Facts

1Shareholders of Devon Energy and Coterra Energy approved all proposals required to complete their previously announced all-stock merger.

2The merger is expected to close around May 7, 2026, creating a premier, large-cap shale operator.

28 days ago

Version History

1 additional source confirmed this story

Version 328 days ago

What changed: Updated the story to include Devon Energy's Q1 financial results, showing an earnings beat and production growth while the Coterra merger remains on track.

Version 230 days ago

What changed: Added details regarding Coterra shareholders' advisory approval of merger-related executive compensation packages as a secondary procedural step.

Version 1about 1 month ago

What changed: Added specific share exchange ratio (0.70 shares) and confirmed NYSE ticker symbols (DVN and CTRA).

Shareholders of Devon Energy and Coterra Energy have officially approved all necessary proposals for their all-stock merger, projected to close around May 7, 2026. Alongside the merger progress, Devon Energy reported Q1 financial results that exceeded earnings per share estimates despite missing revenue targets. The company also highlighted an increase in production levels during the first quarter, bolstering its operational outlook ahead of the consolidation. Upon completion, each share of Coterra (CTRA) will be converted into 0.70 shares of Devon (DVN), resulting in a 54/46 ownership split. This strategic move aims to leverage combined resources to optimize performance in the U.S. shale sector on the NYSE. Analysts view the combination of strong production growth and shareholder support as a positive mandate for the combined entity's future.