Devon closes Coterra merger; pro forma shows $24.8B revenue & $3.77B net income

DEVON ENERGY CORP/DE

Each Coterra share exchanged for 0.70 Devon shares; total consideration ~$24.947B.
Pro forma FY2025 revenue $24.785B, net income attributable to Devon $3.768B ($3.24 diluted EPS).
Pro forma Q1 2026 revenue $5.744B, net income $401M ($0.35 diluted EPS).
Preliminary purchase price allocation: property & equipment fair value increased ~$12.55B from book.
Combined pro forma assets $69.45B, equity $40.38B as of March 31, 2026.

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