WPX - Devon Energy WPX Energy in merger talks - WSJ

Devon Energy (DVN) is in talks to acquire WPX Energy (WPX) in an all-stock deal that could be completed as soon as this week, WSJ reports.The proposed merger would create an entity with a combined current market value of ~$6B; Devon itself was worth more than $50B at its peak value in 2008.Both companies have substantial operations in the Delaware portion of the Permian Basin in west Texas and New Mexico.Small and medium-sized oil and gas companies such as Devon and WPX have performed poorly in recent years and faced pressure from investors to deliver more consistent profits and cash flow.

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Devon Energy, WPX Energy in merger talks - WSJ