Devon Energy

Devon Energy is a leading U.S. independent oil and natural gas exploration and production company with a multi-basin portfolio anchored by the Delaware Basin in the Permian. In 2024, Devon expanded its scale and oil weighting through the acquisition of Grayson Mill Energy, strengthening its position in the Williston and Powder River basins while maintaining a capital-efficient, shareholder-return-focused operating model. In 2025, Devon announced an agreement to acquire Coterra Energy in a $21.5 billion transaction that would create one of the largest diversified U.S. shale producers, pending regulatory and shareholder approval.