WPX - Devon Energy WPX Energy complete merger

Devon Energy (DVN) and WPX Energy (WPX) say they have successfully completed their previously announced all-stock merger of equals.The combined company will operate under the name Devon Energy and be headquartered in Oklahoma City.In accordance with the merger deal, WPX shareholders received a fixed exchange of 0.5165 common shares of Devon for each share of WPX.The merger "enhances the scale of our operations, builds a dominant position in the Delaware Basin and accelerates our cash-return business model that prioritizes free cash flow generation and the return of capital to shareholders," Devon Chairman Dave Hager.Shareholders of both companies voted last month to approve all proposals needed to close the deal.

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Devon Energy, WPX Energy complete merger