Coterra Energy Completes Merger with Devon Energy, Delists from NYSE
Summary
Coterra Energy Inc. has completed its merger with Devon Energy Corporation, becoming a wholly-owned subsidiary and delisting its common stock from the NYSE.
Key Events · M&A and Partnerships · CTRA
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Merger Consummated
On May 7, 2026, Coterra Energy Inc. merged with Cubs Merger Sub, Inc., a subsidiary of Devon Energy Corporation, with Coterra surviving as a wholly-owned subsidiary of Devon.
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Share Conversion
Each share of Coterra Common Stock was converted into the right to receive 0.70 shares of Devon Common Stock, with cash paid in lieu of fractional shares.
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Delisting and Deregistration
Coterra Common Stock ceased trading on the NYSE prior to market open on May 7, 2026, and the company intends to file Form 15 to suspend its SEC reporting obligations.
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Change of Control
As a result of the merger, a change in control of Coterra Energy occurred, and it is now a wholly-owned subsidiary of Devon Energy.
Analysis · CTRA · Energy & Transportation
This 8-K filing confirms the consummation of the merger between Coterra Energy Inc. and Devon Energy Corporation, a thesis-altering event for Coterra shareholders. Coterra has now become a wholly-owned subsidiary of Devon, marking the end of its independent public existence. Coterra's common stock has been delisted from the NYSE, and the company intends to suspend its SEC reporting obligations. Shareholders of Coterra Energy will now hold shares of Devon Common Stock, fundamentally shifting their investment exposure. The termination of Coterra's credit agreement and the departure of its board and officers are standard operational closures following such a transaction.
At the time of this filing, CTRA was trading at $32.49 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $24.7B. This filing was assessed with negative market sentiment and an importance score of 10 out of 10.