An American independent energy company that explores for and produces oil, natural gas, and natural gas liquids from shale basins across the United States, including the Delaware, Eagle Ford, and Anadarko regions. Founded in 1971 in Oklahoma City by accountant John Nichols and his lawyer son Larry, it grew from a small family business into one of the country's largest independent producers. Its 2002 purchase of Mitchell Energy helped spark the modern shale boom.
Devon Energy stockholders elect 11 directors and ratify KPMG at 2026 annual meeting
All 11 director nominees were elected, with votes for ranging from 815,995,379 (Kelt Kindick) to 878,737,154 (Clay M. Gaspar); broker non-votes were 108,991,598 for each.
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Devon Energy held its 2026 Annual Meeting of Stockholders on June 30, 2026, with 1,153,403,107 shares outstanding as of the May 18, 2026 record date.
The appointment of KPMG LLP as independent auditor for 2026 was ratified with 946,932,753 votes for, 50,581,882 against, and 855,982 abstained.
The advisory say-on-pay proposal for named executive officer compensation was approved with 842,136,244 votes for, 45,324,326 against, and 1,918,449 abstained.
The report was filed under Item 5.07 to disclose the voting results of the matters submitted to security holders.
5.07 Submission of Matters to a Vote of Security Holders
Devon Energy completes exchange of Coterra notes for new Devon notes and cash
Devon issued $2.946 billion aggregate principal amount of new notes across five series: 3.90% due 2027, 4.375% due 2029, 5.60% due 2034, 5.40% due 2035, and 5.90% due 2055.
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On June 25, 2026, Devon Energy completed the settlement of exchange offers for outstanding Coterra Energy notes, exchanging them for new Devon notes and cash.
The exchanged Coterra notes were retired and canceled; remaining outstanding amounts range from $5.2 million to $101.4 million per series.
The new notes are general unsecured obligations of Devon, ranking equally with its other unsecured and unsubordinated debt.
Devon entered into a registration rights agreement with dealer managers to file an exchange offer registration statement within 450 days, with potential additional interest of up to 1.0% if not completed.
1.01 Entry into a Material Definitive Agreement · 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement · 8.01 Other Events · 9.01 Financial Statements and Exhibits
Devon Energy completes merger with Coterra Energy, issuing 0.70 Devon shares per Coterra share
The total merger consideration was approximately $24.9 billion, based on Devon's closing stock price of $46.60 on May 6, 2026.
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Devon Energy Corporation completed its merger with Coterra Energy Inc. on May 7, 2026, with Coterra becoming a wholly owned subsidiary.
Each outstanding Coterra common share was converted into 0.70 shares of Devon common stock, plus cash in lieu of fractional shares.
The filing includes unaudited pro forma combined financial statements as if the merger occurred on March 31, 2026 (balance sheet) and January 1, 2025 (income statements).
Pro forma combined net earnings for the year ended December 31, 2025 would have been $3.77 billion, with basic EPS of $3.24.
8.01 Other Events · 9.01 Financial Statements and Exhibits
Devon Energy acquires 16,300 Delaware Basin acres for $2.6 billion
Devon Energy completed the acquisition of 16,300 net undeveloped acres in Lea and Eddy Counties, New Mexico, for approximately $2.6 billion ($161,500 per net acre) through a Bureau of Land Management Oil and Gas Lease Sale.
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The acquisition adds approximately 400 net locations normalized to 2-mile laterals, with federal leases carrying an 87.5% net revenue interest and 10-year terms.
The acreage is contiguous and adjacent to Devon's existing Delaware Basin position, enabling longer laterals, multi-well pad development, and use of existing infrastructure.
The transaction is expected to be funded with cash on hand, and Devon remains committed to its $8 billion share repurchase program.
CEO Clay Gaspar noted the acquisition is immediately accretive to inventory and follows the recent Coterra merger integration.
7.01 Regulation FD Disclosure · 8.01 Other Events · 9.01 Financial Statements and Exhibits