WPX - Devon Energy: A Bit About The Merger

• Devon Energy and WPX Energy are merging their businesses through a $12 billion all-stock deal which will give birth to one of the biggest E&P companies.
• The merger will result in $575 million of cost savings and the new Devon Energy will be able to balance cash flows while holding production flat at $33/Bbl oil.
• The company's focus has shifted to creating value for shareholders including through dividends, limiting cash flow reinvestments, and targeting up to 5% production growth.
• The E&P industry is going through some big changes and we may see further consolidation in the near future.

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