On June 25, 2026, Devon Energy Corporation completed the settlement of exchange offers for notes issued by its subsidiary, Coterra Energy Inc. Devon retired and canceled the accepted Coterra notes and issued five series of new general unsecured New Devon Notes totaling approximately $2.94 billion in aggregate principal: 3.90% notes due 2027 ($627.1M), 4.375% notes due 2029 ($447.6M), 5.60% notes due 2034 ($465.8M), 5.40% notes due 2035 ($671.7M), and 5.90% notes due 2055 ($734.2M). Additionally, Devon entered into a registration rights agreement with Wells Fargo, BofA Securities, and Citigroup, agreeing to use commercially reasonable efforts to register the new notes, with a potential 1.0% additional interest penalty if not completed within 450 days. Devon Energy operates in the energy industry as an independent oil and gas exploration and production company.

Devon Energy Corporation completed its merger with Coterra Energy Inc. on May 7, 2026. The company filed unaudited pro forma financial statements, including a combined balance sheet as of March 31, 2026, and statements of operations for the three months ended March 31, 2026, and the year ended December 31, 2025.

Devon Energy completed the acquisition of 16,300 net undeveloped acres in the Delaware Basin within Lea and Eddy Counties, New Mexico. The transaction was valued at approximately $2.6 billion, representing a cost of roughly $161,500 per net acre.

Devon Energy Corporation has completed its merger with Coterra Energy Inc., with each share of Coterra common stock converting into 0.70 shares of Devon common stock. Following the consummation of the merger, the company also amended its certificate of incorporation to increase its authorized common stock from 1,000,000,000 to 2,000,000,000 shares.