Devon Completes ‘Merger of Equals’ Transaction with WPX Energy The combined company will operate under the name Devon Energy with a premium acreage position in the economic core of the Delaware Basin. Hart Energy Staff Your browser does not support the audio element. Devon Energy Corp. and WPX Energy Inc. completed the previously announced all-stock merger, the U.S. oil and gas producers said in a joint release on Jan. 7. The transaction, announced in September 2020, was described by the companies as a “merger of equals” and gives Devon a premium acreage position in the economic core of the Delaware Basin. The all-stock deal was valued at about $5.75 billion, which includes the assumption of $3.2 billion in net debt.