Devon Energy completes all-stock Coterra merger; Coterra shares convert at 0.70 Devon shares
Devon Energy completed its all-stock merger with Coterra Energy on May 7, 2026, converting each Coterra common share into the right to receive 0.70 Devon common shares. Devon shareholders will own about 54 percent of the combined company and former Coterra shareholders about 46 percent on a fully diluted basis, and Coterra stock will no longer trade on the NYSE. The filing also raises Devon's authorized common shares from 1,000,000,000 to 2,000,000,000 and changes the board and senior officers, which affects who oversees the combined company.
Key points
- Each Coterra share converted into 0.70 Devon shares; Coterra stock will no longer be listed on the NYSE.
- Devon holders own about 54 percent and former Coterra holders about 46 percent on a fully diluted basis.
- Authorized Devon common shares increased from 1,000,000,000 to 2,000,000,000, effective May 7, 2026.
- Shannon E. Young III became CFO and Thomas E. Jorden became non-executive Chair; the company targets $1 billion in annual pre-tax synergies by year-end 2027.
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:30 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 07, 2026.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.