The combined companies will form one of the largest oil and natural gas operators in the Delaware Basin in western Texas.
A pump jack operates at a well site leased by Devon Energy Production Company near Guthrie, Oklahoma on Sept. 15, 2015. Reuters/Nick Oxford
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Devon Energy and Coterra Energy announced on Feb. 2 an agreement to merge the two companies in an all-stock transaction with an enterprise value of about $58 billion.
The merger of Oklahoma City-based Devon Energy and Houston-based Coterra Energy creates one of the largest shale operators in the Delaware Basin, a sub-basin of the Permian Basin in West Texas and southern New Mexico.
Rob Sabo has worked as a business journalist for nearly two decades and covers a broad range of business topics for The Epoch Times.
