Zhi Tong Cai Jing·2026-02-02 15:07Core Viewpoint - Coterra Energy's stock price declined over 1.7% following Devon Energy's announcement of a $21.4 billion all-stock acquisition, marking one of the largest oil and gas deals in recent years [1] Group 1: Acquisition Details - Devon Energy will acquire Coterra Energy in an all-stock transaction valued at approximately $21.4 billion [1] - Coterra Energy shareholders will receive 0.7 shares of Devon stock for each share they own [1] - The merger is expected to be completed in the second quarter of this year and aims to achieve about $1 billion in pre-tax synergies [1] Group 2: Operational Impact - The merger will enhance both companies' positions in the Permian Basin, the largest oil field in the United States [1] - Post-merger, the combined daily production is projected to exceed 1.6 million barrels of oil equivalent [1] - The enterprise value of the merged entity is estimated to be around $58 billion [1]