“The sooner the merger is closed, the sooner we can integrate the organizations and become one Devon.” (SEC filing)
Devon Energy and WPX energy made it clear in a filing with the Securities and Exchange Commission—the faster their merger can be completed the better.
In Friday’s filing with the SEC, Devon stated, “Both the Devon and WPX teams are working to achieve the necessary regulatory and shareholder approvals as quickly as possible. Although we cannot project the exact timing of the close, it may be possible to close as early as mid-December.”
The filing indicated that if it is not possible to achieve the merger close by late this year, then the two firms expect it to occur in early 2021.
Until then, Devon and WPX will “continue to operate as independent companies.”
Devon’s future executive committee, according to the SEC filing has met with and is evaluating the services of merger integration experts that might assist in the close.
Devon members of the integration team will include David Harris (E&P Operations), Jeff Ritenour (Finance) and Tana Cashion (HR). WPX members will include Clay Gaspar (E&P Operations), Dennis Cameron (Legal), Kevin Vann (Finance) and Angela Kouplen (HR & IT). The intention is to have the full integration team, including subject matter experts from both WPX and Devon, in place soon and begin all aspects of integration planning.
Click here to view SEC filing.
Source: Devon SEC filing
