The Petroleum Alliance of Oklahoma normally does not issue statements or comments about mergers and acquisitions in the oil and gas industry.
But after reconsideration when pressed Monday, the Alliance’s President Brook A. Simmons did issue a formal statement.
“Mergers, acquisitions, and divestitures have been part of this industry since the beginning. The combination of Devon and Coterra creates one of the largest U.S. onshore producers in the nation. We wish them well.
Change brings new discoveries and efficiencies, fresh thinking, and new players to Oklahoma.
Oklahoma has long been fertile ground for independent oil and natural gas companies with big ideas and a willingness to take risks. Many of today’s industry giants got their start here as homegrown operations. Expand Energy began with two men and 20 wells outside Lindsay. Continental Resources was founded by an Enid wildcatter. Devon Energy itself started with just five employees and a handful of wells.
That history isn’t just nostalgia. It’s a pattern. In Oklahoma, small teams with vision and grit build companies that reshape the industry. We look forward to watching the next Oklahoma company rise through the ranks and earn its place as an industry leader.”