2021: Risk of losing $1.1 billion due to failed price hedging
According to August 2021, shale companies face almost $12 billion in losses this year due to unsuccessful oil hedging. Some companies recorded oil prices at $42 per barrel.
2020: Merger with WPX Energy
In September 2020, American oil and gas companies Devon Energy and WPX Energy Inc. agreed on a merger that will form one of the largest in the United States slantsevik worth about 12 billion. dollars
Under the terms of the agreement, WPX shareholders will receive 0.5165 ordinary shares of Devon for each ordinary share of WPX owned by them. Upon completion of the transaction, Devon shareholders will own approximately 57% of the combined company, and WPX shareholders will own approximately 43%. Completion of the transaction is expected in the first quarter of 2021.
Devon Energy shares are up 12% in U.S. preliminary trading, and WPX Energy is up 15%.
The oil company Devon Energy is included in the calculation of the S&P 500 index, operates in several of the most successful oil and gas regions in the United States.
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