Kimmeridge supports Coterra-Devon merger, seeks portfolio focus

Kimmeridge Energy Management Company issued a statement supporting the proposed all-stock merger between Coterra Energy (NYSE: CTRA) and Devon Energy (NYSE: DVN), according to a press release.

Mark Viviano, Managing Partner at Kimmeridge, said the private investment firm holds significant positions in both companies and supports a combination that can unlock shareholder value. Viviano stated the merger would require portfolio rationalization and renewed focus on the Delaware basin.

Kimmeridge has formally submitted director nominees for Coterra and awaits disclosure of Coterra's board slate and the S-4 merger filing to evaluate the competitive process undertaken by Coterra's board.

The investment firm previously sent an open letter to Coterra's Board of Directors on November 4, 2025, outlining steps to address governance issues and unlock shareholder value.

Founded in 2012, Kimmeridge focuses on energy sector investments and launched public engagement activities in early 2020 targeting the exploration and production sector. The firm reports its platform has outperformed the S&P 500 and relevant indices by 2x on an annualized basis since inception.

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