Devon Energy Corporation
Devon Energy Approves Stock Issuance and Charter Amendment for Coterra Merger
Summary
On May 4, 2026, Devon Energy Corporation held a special meeting where stockholders approved the issuance of shares to Coterra Energy Inc. stockholders and an amendment to the company's charter to increase the number of authorized shares. The Stock Issuance Proposal was approved with 470,046,943 votes for, 4,149,656 against, and 1,150,100 abstaining. The Authorized Share Charter Amendment Proposal was approved with 468,262,401 votes for, 5,833,875 against, and 1,250,423 abstaining. These approvals are subject to customary closing conditions and are expected to close on or about May 7, 2026.
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About Devon Energy Corporation
Devon Energy Corporation is a prominent player in the energy sector, specializing in the exploration, development, and production of oil and natural gas. With its corporate headquarters located in Oklahoma City, Oklahoma, Devon Energy operates principally across the United States. Its portfolio encompasses some of the most resource-rich areas, such as the Delaware Basin within the greater Permian Basin, Eagle Ford, Anadarko Basin, Powder River Basin, and the Williston Basin. The company's primary function is to harness and maximize value from its substantial onshore oil and gas reserves, making substantial contributions to the energy supply chain. Devon Energy is noted for its strategic focus on efficient and sustainable practices in hydrocarbon extraction and production. It plays a critical role in the U.S. energy landscape, providing resources essential for various sectors including transportation, manufacturing, and residential energy needs. Through innovative drilling and operating techniques, Devon Energy pursues operational excellence while remaining committed to reducing its environmental footprint and enhancing the safety of its operations.
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