Coterra Energy Inc

Devon Energy completed its all-stock merger with Coterra Energy, ending CTRA trading on the NYSE. The $25B deal pushed US upstream M&A to a two-year high, with Devon targeting $1B in annual synergies and launching an $8B buyback.

Devon Energy closed its $58 billion all-stock merger with Coterra, launching an $8 billion buyback and higher dividend. Investors now watch for execution risks.

Coterra Energy shares stopped trading as its merger with Devon Energy closed, converting each share into 0.70 Devon share. The deal now tests Devon's ability to deliver on promised synergies.

Coterra Energy shares have stopped trading on the NYSE after Devon Energy completed its all-stock acquisition. Former Coterra holders received 0.70 Devon shares per Coterra share, and the merged firm now trades under DVN.

Devon Energy has completed its all-stock acquisition of Coterra Energy, delisting CTRA from the NYSE. Shareholders received 0.70 Devon shares per Coterra share, plus cash for fractions.

U.S. natural gas prices remained subdued near $3.03 per mmBtu as increased domestic production and softer demand forecasts pressured the market. West Texas's Waha hub saw cash prices stay negative for a historic 27-day stretch due to pipeline constraints.

Devon Energy shares surged 4.76% to $49.49 Friday, outperforming peers after closing its Coterra merger and unveiling an $8 billion buyback. Oil prices climbed above $105, supporting the stock.