Kimmeridge Energy Management Co. criticizes Devon Energy Corp.’s divestment pace, saying the company’s asset-sale program is moving too slowly. The remarks follow Devon’s $25 billion takeover of Coterra Energy Inc., a deal that has increased scrutiny on how quickly Devon will reposition its portfolio.
Kimmeridge, an outspoken investor focused on the shale sector, argues that Devon should accelerate planned sales rather than proceed at the current timetable. The criticism centers on the timing and execution of divestments intended to reshape Devon’s asset mix after the acquisition.
The two reports describe the same dispute from similar angles: Kimmeridge is pressing for faster action, while Devon’s asset-sale efforts are characterized by the investor as not keeping pace with expectations after the merger. The coverage does not indicate that Devon has agreed to change its plan, nor does it provide specific updated sale schedules, but it highlights investor pressure on management to move more quickly in the post-acquisition period.
