Gibson Dunn and Skadden advised on $58 billion all-stock merger between Coterra Energy and Devon Energy.
The combined company’s enterprise value will be approximately $58 billion, making this the largest upstream oil and gas deal since early 2024. The merger brings together two leading U.S. energy producers with complementary asset bases and is expected to enhance scale, operational efficiency, and capital allocation flexibility across key shale basins.
Gibson Dunn advised Coterra Energy on all aspects of the transaction.
The Gibson Dunn corporate team includes Partners Tull Florey, Hillary Holmes, and Andrew Kaplan; of Counsel Jonathan Sapp; and Associates Mary Boci, Kyle Ezring, and Hunter Michielson. Partner Rahul Vashi is advising on oil and gas aspects. Senior counsel Gregory Nelson and Associate Nathan Sauers are advising on tax aspects. Partner Shalla Prichard is advising on finance aspects. Partner Krista Hanvey and of Counsel John Curran are advising on benefits. Partner Joshua Lipton and Associate Alexander Merritt are advising on antitrust aspects.
Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal advisor to Devon Energy in connection with the transaction.
The Skadden team included Steve Gill, Dohyun Kim, Mingda Zhao and Elizabeth Gonzalez-Sussman.
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