Following its merger with Coterra Energy, Devon Energy has launched private exchange offers to swap outstanding Coterra notes for new Devon notes and cash. Eligible holders can tender their Coterra notes by June 23, 2026, to receive new notes with a slight premium and $1 cash per $1,000 principal. Concurrently, Devon seeks consent from noteholders to amend indentures, removing certain covenants and restrictions. This move streamlines Devon's debt structure post-merger and aims to improve financial flexibility.
The iShares U.S. Oil & Gas Exploration & Production ETF (IEO) paid its smallest quarterly dividend since mid-2024 at $0.55 in March. The fund's payouts fluctuate with oil and gas prices, driven mainly by top holdings like ConocoPhillips, EOG Resource...
Devon Energy purchased 16,300 net undeveloped acres in the Delaware Basin, New Mexico, for about $2.6 billion through a federal lease sale. This acquisition adds roughly 400 drilling locations with strong economics and favorable federal lease terms, ...
Devon Energy acquired 16,300 net undeveloped acres in the Delaware Basin, New Mexico, for about $2.6 billion through a federal lease sale. This purchase adds roughly 400 drilling locations with favorable terms like high net revenue interest and conti...
