EXCLUSIVE-US shale producers Devon Energy and Coterra Energy in merger talks, sources say

By David French

NEW YORK, Jan 15 (Reuters) - Devon Energy DVN.N and Coterra Energy CTRA.N are exploring a potential merger, potentially creating one of the largest independent U.S. shale producers, people familiar with the matter said.

The two companies are said to be in early-stage talks for a combination, said the sources who cautioned that a transaction was not guaranteed. Devon has a market value of around $24 billion, while Coterra is worth about $20 billion.

The sources also spoke on condition of anonymity to discuss confidential deliberations.

Devon and Coterra didn't immediately respond to requests for comment.