Tag Archive for: usshale

Devon Energy and Coterra Energy are merging in an all-stock deal valued at $58 billion to create a new U.S. shale oil and gas heavyweight.

Devon and Coterra announce a $58 billion shale merger

Devon Energy and Coterra Energy have agreed to combine in an all-stock transaction that values the deal at roughly $58 billion. Under the terms announced on February 2, 2026, Coterra shareholders would receive 0.70 shares of Devon stock for each Coterra share, leaving Devon shareholders with about 54% of the combined company and Coterra shareholders with about 46%.

The companies say the merger would create a larger U.S. shale operator with a major footprint in the Permian Basin, including sizable adjacent positions in the Delaware Basin, alongside assets in other core U.S. producing regions. Leadership is expected to include Devon CEO Clay Gaspar as chief executive, with Coterra CEO Tom Jorden serving as non-executive chair. The companies also highlighted targeted cost and operating synergies, alongside a plan focused on scale, inventory depth, and shareholder returns—an approach that continues the broader consolidation trend across U.S. upstream producers.

If you want more background on oil & gas consolidation, see our explainer on industry consolidation and our overview of oil production in Texas.

Source: MSN
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Permian Basin may have smaller, focused deals, but continues to flourish, says Pearl Energy founder Billy Quinn after record consolidation.

Permian thriving on small deals, says Pearl Energy

Despite billions of dollars’ worth of consolidation in the U.S.’ most prolific shale play, the Permian Basin remains thriving at a key place to deploy private equity capital. Portfolio companies can build into successful enterprises ripe for acquisition—but it’s not a job for just anybody.

Hart Energy queried top private equity firms invested in the Permian about what’s next for the most prolific shale play in the U.S. This interview with William J. “Billy” Quinn, founder and managing director at Pearl Energy Investments, is the first in a three-part series.

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Source: HARTENERGY

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US shale's not dead—just evolving. Despite low oil prices, innovation & resilience could spark a major comeback, says Energy Secretary Wright

Shale is about to make a comeback for the ages: Energy Secretary

Oil prices are sagging like a tired trampoline, and U.S. shale producers are feeling the bounce—just not in a good way. With WTI dancing around $60 and analysts wringing their hands over breakeven levels near $65, you’d be forgiven for assuming the shale patch was in full panic mode.

But U.S. Energy Secretary Chris Wright—former CEO of Liberty Energy and now the government’s top oil whisperer—seems utterly unbothered.

“The U.S. shale industry is going to survive and thrive,” Wright declared this week in Abu Dhabi, where optimism apparently flows as freely as the crude. “In 2015 and 2016 oil prices twice hit $28 [per barrel], and what happened? What did the U.S. shale industry do in that time—innovate, get smarter, drive their costs down, and that’s what’s happening right now.”

Now, we could roll our eyes—after all, shale execs are notorious for saying things like “we’re cash flow positive now, really!” right before announcing layoffs and asset sales. But what if Wright’s not just blowing smoke?

History favors shale’s prospects of survival

The shale industry did survive the 2014–2016 oil price collapse. Admittedly, it was barely. And there were some individual players that couldn’t keep their heads above water. But overall, US shale emerged leaner, meaner, and with a few more gray hairs. Costs dropped. Frac stages multiplied like rabbits. Wells got longer, and so did the breakeven charts in investor decks. Could we see a similar cycle of innovation again, or has innovation reached its peak? The latter scenario would be hard to argue.

But it’s possible. As Wright admitted, “investment decisions are going to be tailored if prices stay this low for a long period of time.” Translation: the rig count will take a hit, and Wall Street won’t be lining up to throw money at growth. But shale’s not dead.

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Source: Oil & Gas 360

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