Energy
Shale’s New Titan: Devon and Coterra Unveil $58 Billion Merger to Dominate the Delaware Basin
In a move that signals the dawn of the "mega-independent" era in American shale, Devon Energy (NYSE: DVN) and Coterra Energy (NYSE: CTRA) announced on February 2, 2026, a definitive agreement to merge in an all-stock transaction. The deal, valued at approximately $58 billion including debt, creates a