{"id":76727,"date":"2020-09-28T01:43:00","date_gmt":"2020-09-27T22:43:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/devon-wpx-discussing-merger-to-create-6-billion-energy-company\/"},"modified":"2020-09-28T01:43:00","modified_gmt":"2020-09-27T22:43:00","slug":"devon-wpx-discussing-merger-to-create-6-billion-energy-company","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/devon-wpx-discussing-merger-to-create-6-billion-energy-company\/","title":{"rendered":"#\n  Devon, WPX discussing merger to create $6 billion energy company"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a36e6cf07bab\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a36e6cf07bab\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/devon-wpx-discussing-merger-to-create-6-billion-energy-company\/#Deal_could_help_companies_survive_prolonged_shale_slump\" >Deal could help companies survive prolonged shale slump<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/devon-wpx-discussing-merger-to-create-6-billion-energy-company\/#Cara_Lombardo_and\" >Cara Lombardo and<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/devon-wpx-discussing-merger-to-create-6-billion-energy-company\/#Rebecca_Elliott\" >Rebecca Elliott<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong>#<br \/>\n  Devon, WPX discussing merger to create $6 billion energy company<br \/>\n<\/strong>&#8221;<\/p>\n<h2 class=\"article__subhead\" itemprop=\"alternativeHeadline\"><span class=\"ez-toc-section\" id=\"Deal_could_help_companies_survive_prolonged_shale_slump\"><\/span>\n  Deal could help companies survive prolonged shale slump<br \/>\n<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><\/p>\n<div class=\"column column--full article__content\">\n<div id=\"js-article__body\" class=\"article__body article-wrap at16-col16 barrons-article-wrap\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0000020869\">\n<div class=\"barrons-article-ad-wrapper\">\n<div data-track=\"barrons-article-ad-wrap\" class=\"barrons-article-ad sticky_item\">\n<div class=\"barrons-main-article-ad-target sticky_target body_ad\" aria-hidden=\"true\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p>\n<p>  Devon Energy Corp. and WPX Energy Inc. are in talks to combine,  according to people familiar with the matter, in a move that could help the  energy companies weather a prolonged industry slump. <\/p>\n<div class=\"paywall\">\n       The companies are discussing an all-stock deal that would create an  entity with a combined current market value of about $6 billion. An agreement  could be completed as soon as Monday, assuming the talks don\u2019t fall apart, the  people said. Devon<br \/>\n        DVN,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/209479244\/composite\" class=\"negative\">-1.56%<\/bg-quote><br \/>\n       has a market value of roughly $3.4 billion, while WPX\u2019s<br \/>\n        WPX,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/204372171\/composite\" class=\"positive\">+0.68%<\/bg-quote><br \/>\n       is  about $2.5 billion. <\/p>\n<p>American shale drillers, which had helped make the U.S. the world\u2019s  top oil producer, have been hammered by the drop in demand caused by the  pandemic. Companies have sharply cut drilling budgets and pulled back on growth  as they seek to conserve cash during the downturn. Still, U.S. benchmark oil  prices are hovering around $40, a level at which most cannot produce profitably,  and many weaker companies are threatened with bankruptcy if the slump  persists. <\/p>\n<p>In a sign of the devastation, Devon\u2019s shares have dropped about 64%  in the past year, while WPX\u2019s fell by around 57%. The declines are steeper than  those of many of the companies\u2019 larger rivals and compare to a roughly 53%  decline in a broad index of U.S. oil-and-gas companies. Devon\u2019s market value is  a shadow of what it once was. At its peak in 2008, the company was worth more  than $50 billion. WPX was worth more than $8 billion at its peak just two years  ago. <\/p>\n<p>Small and midsize oil-and-gas companies have performed poorly in  recent years and already faced pressure from investors to deliver more  consistent profits and cash flow. One way to do that is to combine forces to  achieve economies of scale and reduce administrative costs.<\/p>\n<p><a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/www.wsj.com\/articles\/devon-wpx-in-talks-to-merge-11601156479?mod=mktw\" class=\"icon none\">An expanded version of this report appears on WSJ.com.<\/a><\/p>\n<p><strong>Also popular on WSJ.com:<\/strong><\/p>\n<p><a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/www.wsj.com\/articles\/grocers-stockpile-build-pandemic-pallets-ahead-of-winter-11601199000?mod=mktw\" class=\"icon none\">Grocers stockpile, build \u2018pandemic pallets\u2019 ahead of winter.<\/a><\/p>\n<p><a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/www.wsj.com\/articles\/what-trump-pick-amy-coney-barrett-could-mean-for-future-of-the-supreme-court-11601155192?mod=mktw\" class=\"icon none\">What Trump pick Amy Coney Barrett could mean for the future of the Supreme Court.<\/a><\/p>\n<\/div>\n<\/div><\/div>\n<p><\/p>\n<div class=\"byline article__byline\">\n<p>      <span>By<\/span><\/p>\n<div class=\"author  hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"Cara Lombardo\",\"subhead\":\"The Wall Street Journal\",\"list\":[]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"Cara_Lombardo_and\"><\/span>Cara Lombardo and<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/p><\/div>\n<div class=\"author  hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"Rebecca Elliott\",\"subhead\":\"The Wall Street Journal\",\"list\":[]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"Rebecca_Elliott\"><\/span>Rebecca Elliott<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/p><\/div>\n<\/div>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener noreferrer\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"http:\/\/www.marketwatch.com\/news\/story.asp?guid=%7B21004575-02D4-D4B5-4572-D51857083DE6%7D&#038;siteid=rss&#038;rss=1\" target=\"_blank\" rel=\"noopener noreferrer\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Devon, WPX discussing merger to create $6 billion energy company &#8221; Deal could help companies survive prolonged shale slump Devon Energy Corp. and WPX Energy Inc. are in talks to combine, according to people familiar with the matter, in a move that could help the energy companies weather a prolonged industry slump. The companies&#8230;<\/p>\n","protected":false},"author":1,"featured_media":71349,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[],"class_list":["post-76727","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/76727","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=76727"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/76727\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/71349"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=76727"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=76727"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=76727"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}