MergerMay 7, 2026, 05:12 PM
Coterra Energy Completes Merger with Devon Energy
AI Summary
Coterra Energy Inc. announced the completion of its merger with Devon Energy. As a result, each share of Coterra common stock was converted into the right to receive 0.70 shares of Devon Common Stock, with cash paid for any fractional shares. In connection with the merger, Coterra terminated its Credit Agreement, paying off all outstanding obligations. The company's common stock was delisted from the NYSE and ceased trading on May 7, 2026, and Coterra plans to file Form 15 to suspend its reporting obligations.
Key Highlights
- Coterra Energy completed its merger with Devon Energy.
- Each Coterra common stock share converted into 0.70 shares of Devon Common Stock.
- Cash will be paid in lieu of fractional shares of Devon Common Stock.
- All outstanding lender commitments under the Credit Agreement were terminated.
- All outstanding obligations for principal, interest, and fees under the Credit Agreement were paid off in full.
- Coterra Energy common stock was delisted from the NYSE and ceased trading on May 7, 2026.
- The company intends to file Form 15 to suspend reporting obligations and terminate registration.