Devon Energy announced an extension of the deadline for its private exchange offers, allowing holders of Coterra Energy notes to exchange them for new Devon notes plus cash. As of June 5, 2026, a significant majority of notes across various series have been tendered, with participation rates exceeding 85% in most cases. The consent solicitations to amend note indentures have also received the required approvals. The settlement date is expected within two business days after the new expiration date of June 23, 2026, with payment terms consistent for early and later tenders. This move helps Devon streamline its debt structure and maintain financial flexibility.
Devon Energy announced its updated 2026 outlook following its merger with Coterra Energy, projecting average production of 1.38 million barrels of oil equivalent per day, including 500,000 barrels of oil daily. The company plans $4.9 billion in capit...
Devon Energy received an $8 billion offer from Stone Ridge Asset Management for its Marcellus shale assets in Pennsylvania, potentially the largest asset-backed securitization in the US oil and gas sector. These assets represent about 20% of Devon's ...
