Coterra Energy Acquired by Devon Energy | Energy M&A Deal

Devon Energy has completed the acquisition of Coterra Energy, a midstream business in Oklahoma, for over $100M. Coterra Energy operates energy infrastructure and related services supporting oil and gas production across major U.S. basins, giving Devon Energy a stronger platform for midstream acquisition and operational integration. Devon Energy acquisitions aim to expand scale and improve cash flow potential by combining complementary assets and capabilities in Oklahoma and broader operating regions. The strategic acquisition is structured as an all-stock merger acquisition, with Coterra Energy acquisition terms converting Coterra shares into Devon common stock, and the companies targeting a close around May 7, 2026 as part of energy M&A and merger acquisition activity.