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Devon Energy Corporation
As of May 16, 2026 at 24:00 UTC
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About Devon Energy Corporation
Devon Energy is an oil and gas producer with acreage in several top US shale plays. While roughly two-thirds of its production comes from the Permian Basin, it also holds a meaningful presence in the Anadarko, Eagle Ford, and Bakken basins. After the merger with Coterra, it will have a foothold in the gas-driven Appalachian Basin as well. At the end of 2025, Devon reported net proved reserves of 2.4 billion barrels of oil equivalent, up from 2.2 billion in 2024. Net production averaged roughly 840,000 barrels of oil equivalent per day in 2025 at a ratio of 73% oil and natural gas liquids and 27% natural gas.
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Latest News
5 articlesShell warns the world is short 1 billion barrels of oil due to Middle East conflict, with recovery expected to take months. High energy prices are expected to persist, benefiting oil and gas producers. The article recommends three energy stocks: Chevron for conservative long-term investors seeking dividend stability, and Diamondback Energy and Devon Energy for those willing to accept higher volatility in exchange for greater upside potential from elevated oil prices.
Shell's CEO warns the world faces a 1 billion-barrel oil shortage due to Middle East geopolitical conflict closing the Strait of Hormuz. While current high oil prices benefit energy companies, the supply imbalance will take months to resolve after the conflict ends. For long-term investors, integrated energy majors like Chevron and ExxonMobil are preferred over Shell due to stronger dividend histories and balance sheets, with Chevron offering the best value among the three.
Devon Energy and Coterra Energy have successfully completed their all-stock merger, creating a premier large-cap shale operator. Under the merger agreement, each Coterra share converts to 0.70 Devon shares. The combined company will operate as Devon Energy, headquartered in Houston, with an expected $1 billion in annual pre-tax synergies by year-end 2027. Devon shareholders own approximately 54% and former Coterra shareholders own approximately 46% of the combined entity on a fully diluted basis.
Devon Energy and Coterra Energy shareholders have approved their all-stock merger with overwhelming support. Devon shareholders voted 98% in favor while Coterra shareholders voted 99% in favor. The merger is expected to close on or around May 7, 2026, with Coterra shareholders receiving 0.70 Devon shares per Coterra share. The combined company will create a premier large-cap shale operator with enhanced margins and greater scale.
Following Iran's agreement to open the Strait of Hormuz and cease using it as a weapon, markets surged to historic records. Oil prices plunged 15% to $80/barrel, the S&P 500 crossed 7,100 for the first time, and the Nasdaq 100 extended a 13-day winning streak. Energy stocks fell sharply while growth and crypto stocks rallied strongly on reduced inflation concerns.
