Devon Energy and Coterra Energy announced a merger valued at $58 billion, creating a leading shale operator with significant operations in the Permian Basin, Marcellus Shale, and Anadarko Basin. The combined company is expected to produce over 1.6 million barrels of oil equivalent per day by Q3 2025 and achieve $1 billion in annual pre-tax synergies. The merger is set to close in Q2 2026, pending regulatory approvals.
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