A $58 Billion Shale Merger Comes at an Awkward Time

Oil and gas producers Devon Energy and Coterra Energy are joining forces to become a dominant $58 billion shale-drilling company that will rank among the top players in U.S.-based production. Analysts seem to like the deal, but shares of both Devon and Coterra were down 0.5% and 3%, respectively, early on Monday. Part of the problem was that oil prices were falling Monday.