Coterra rises on report company is in early-stage merger talks with Devon Energy

Shares of U.S. oil and gas company Coterra Energy CTRA.N rise ~3% to $26.10

Reuters reports, citing sources, that Coterra is exploring a potential merger with Devon Energy DVN.N, which could create one of the largest independent U.S. shale producers

The two cos are said to be in early-stage talks for a combination

DVN shares down 2.4% at $37.02

Brent futures LCOc1 down 4.68% at $63.41 a barrel and U.S. West Texas Intermediate crude CLc1 fall 4.9% to $58.98 a barrel

In 2025, CTRA rose 3.05% and DVN gained 11.9%