Coterra Energy Inc. completed its merger with Devon Energy Corporation on May 7, 2026, becoming a wholly-owned subsidiary of Devon. Under the terms of the agreement, Coterra shareholders will receive 0.70 shares of Devon common stock for each share of Coterra common stock held. Consequently, Coterra's common stock will be delisted from the New York Stock Exchange.

Coterra Energy Inc. stockholders approved the company's merger with Devon Energy Corporation and a related advisory compensation proposal during a special meeting on May 4, 2026. The merger proposal received 623,592,882 votes in favor, and the company expects the transaction to close on or about May 7, 2026.

Coterra Energy is voluntarily supplementing its merger proxy statement with additional disclosures following demand letters from stockholders alleging disclosure deficiencies regarding its proposed merger with Devon Energy. The filing includes updated Goldman Sachs financial analyses, which provide a revised range for the implied present value of the exchange ratio to be paid per Coterra share of $30.67 to $38.51 based on discounted cash flows.

Coterra Energy Inc. has satisfied the Hart-Scott-Rodino Antitrust Improvements Act waiting period condition required for its merger with Devon Energy Corporation. The transaction is expected to close in the second quarter of 2026, subject to the satisfaction of other customary closing conditions.

Coterra Energy Inc. released its fourth quarter and full-year 2025 financial results on February 26, 2026. The filing also provides updates regarding the company's proposed merger with Devon Energy Corporation, noting that Devon will file a registration statement and a joint proxy statement/prospectus with the SEC.

Coterra Energy Inc. has entered into a definitive merger agreement with Devon Energy Corporation, under which Coterra will become a wholly-owned subsidiary of Devon. Coterra stockholders will receive 0.70 shares of Devon common stock for each share owned, resulting in a combined company ownership split of approximately 46% for Coterra and 54% for Devon stockholders. The agreement also includes a reciprocal termination fee of $865 million in certain circumstances.