Devon Energy Corporation — oil & natural gas project

Devon Energy Corporation is a leading independent U.S. onshore oil, natural gas and NGL exploration and production company (NYSE: DVN), headquartered in Oklahoma City, Oklahoma. Operations are focused on four core areas underpinned by premium acreage in the economic core of the Delaware Basin, complemented by the Rockies, Eagle Ford and Anadarko Basin. On February 1, 2026 Devon entered an all-stock merger of equals with Coterra Energy Inc. via Cubs Merger Sub, Inc. at a fixed 0.70 Devon-per-Coterra share exchange ratio; shareholders approved on May 4, 2026 and closing was expected May 7, 2026, targeting $1.0 billion of annual synergies with the combined company headquartered in Houston. Devon is on track to achieve its $1.0 billion business-optimization plan ahead of schedule. Recent portfolio actions include the April 2025 Eagle Ford (Blackhawk) acreage exchange with BPX Energy, the August 2025 buy-in of the remaining CDM interest (now 100%), and equity investments in WaterBridge (14%), Catalyst (50%) and Fervo (15%).