Devon Energy在Coterra合并后推出80亿美元回购

2026-05-08 15:16

Devon Energy (DVN) launched a new $8B share repurchase program after completing its merger with Coterra Energy (CTRA).
The company also raised its fixed quarterly dividend by 33% to $0.32 per share, signaling confidence in free cash flow generation and shareholder returns. The dividend is payable on June 30, 2026 to shareholders of record as of the close of business on June 15, 2026
The merged company will operate under Devon Energy (DVN), while former Coterra shareholders now own about 46% of the combined entity. Devon (DVN) said the combined portfolio is expected to generate more than $1B in annual pre-tax synergies by the end of 2027, supported by a larger footprint in the Permian Basin.
“With the merger now complete and a board approved $8 billion share repurchase authorization representing almost 15% of our current market capitalization, I expect Devon will be active and opportunistic in our buyback program. Devon has the scale, inventory depth, and financial strength to sustain a peer-leading capital return framework while maintaining a fortress balance sheet. We are exceptionally well-positioned to generate resilient free cash flow and deliver differentiated returns through all phases of the commodity cycle.” said Clay Gaspar, Devon’s President and CEO.
The stock price traded about 1.4% higher on Friday during pre-market hours.

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