Each one in plain English, with the numbers worked through for a shareholder.
13 Jan 2021substantial holder notice● Neutral
Felix STACK Holdings, LLC, EnCap FEx Holdings, LLC, EnCap Energy Capital Fund IX, L.P, Felix Investments Holdings II, LLC, Felix Energy Investments II, LLC, EnCap Energy Capital Fund X, L.P, EnCap Partners GP, LLC disclosed a new substantial DEVON ENERGY CORP/DE shareholding (13.20% of votes).
7 Jan 2021asset acquisition disposition● NeutralMajor
The all-stock merger with WPX Energy closed on January 7, 2021, with each WPX share converting into 0.5165 Devon shares. EnCap received a board nominee right (D. Martin Phillips was named) plus resale registration rights; Dave Hager became Executive Chair and WPX's Rick Muncrief became President and CEO, with Clay Gaspar as COO and Jeff Ritenour staying CFO. This completes the merger announced in September 2020.
Devon shareholders overwhelmingly approved issuing shares for the WPX merger at a December 30, 2020 special meeting, clearing the last major hurdle before closing.
DEVON ENERGY CORP/DE shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
Devon disclosed that twelve shareholder lawsuits had been filed challenging the adequacy of disclosures in the WPX merger proxy statement - a common type of merger litigation that typically does not block deals from closing.
Devon named the senior leadership team for the combined company ahead of closing the WPX merger, with Clay Gaspar to lead asset operations, David Harris to lead strategy, and Jeff Ritenour to lead finance and investor relations.