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Devon Energy and WPX Energy Complete Merger of Equals Transaction
January 7, 2021 GMT
TULSA, Okla. (BUSINESS WIRE) Jan 7, 2021
Devon Energy Corporation (“Devon”) (NYSE: DVN) and WPX Energy, Inc. (“WPX”) (NYSE: WPX) today announced the successful completion of their previously announced all-stock merger of equals, creating a leading energy producer in the U.S., with an asset base underpinned by a premium acreage position in the economic core of the Delaware Basin. The combined company will operate under the name Devon Energy and be headquartered in Oklahoma City.
Devon Energy and WPX Energy have completed their all-stock merger.
Calling it a “merger of equals,” Oklahoma City-based Devon Energy Corp. (NYSE: DVN) and Tulsa-based WPX Energy, Inc. (NYSE: WPX) reported Thursday that they have completed their all-stock combination.
Under the deal, WPX shareholders received 0.5165 shares of Devon common stock for each WPX common stock share owned. Devon and WPX shareholders approved the transaction on Dec. 30, 2020, and the Oklahoma City-based combined company will operate using the name Devon Energy. Devon pointed out Thursday that WPX common stock will no longer be listed for trading on the New York Stock Exchange.
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