MergerMay 22, 2026, 09:46 AM
Devon Energy Files Pro Forma Financials for Coterra Merger
AI Summary
Devon Energy Corp. filed unaudited pro forma combined financial statements reflecting its merger with Coterra Energy Inc., which was completed on May 7, 2026. The pro forma balance sheet is presented as if the merger occurred on March 31, 2026, while the pro forma statements of operations for Q1 2026 and FY 2025 assume the merger was completed on January 1, 2025. The statements are illustrative and do not represent actual future financial positions or results.
Key Highlights
- Merger with Coterra Energy Inc. completed on May 7, 2026.
- Each Coterra share converted into 0.70 shares of Devon common stock.
- Total merger consideration valued at $24.947 billion.
- Pro forma Q1 2026 net earnings were $401 million, with basic EPS of $0.35.
- Pro forma FY 2025 net earnings attributable to Devon were $3.768 billion, with basic EPS of $3.24.
- Pro forma total assets were $69.451 billion as of March 31, 2026.
- Estimated transaction costs of $50 million were reflected in the pro forma statements.
Price Impact
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