NEW YORK, Feb. 2, 2026 /PRNewswire/ — Kimmeridge Energy Management Company LLC, a private investment firm focused on the energy sector, today issued the following statement following the announcement of a definitive agreement to merge Coterra Energy (NYSE: CTRA) and Devon Energy (NYSE: DVN) in an all-stock transaction.
“As significant shareholders of both companies, we support a combination that can create meaningful shareholder value,” said Mark Viviano, Kimmeridge Managing Partner. “Having formally submitted nominations for directorship, we now look forward to the disclosure of Cotera’s timetable and S-4 merger application to better understand the competitive process the Board undertook to achieve this outcome.”
Mr. Kimmeridge previously wrote an open letter to Cotera’s Board of Directors on November 4, 2025, outlining urgent and very practical steps to address Cotera’s governance failures and unlock value for shareholders.
About Kimmeridge
Founded in 2012 by Ben Dell, Dr. Neil McMahon and Henry Makansi, Kimmeridge is an alternative asset management firm focused on the energy sector. The firm is differentiated by its direct investment approach, deep technical knowledge, active portfolio management, proprietary research, and data collection. Public engagement is one of the company’s core strategies and was launched in early 2020 to transform the public E&P sector and generate differentiated returns. Since its inception, the platform has outperformed the S&P 500 and related indexes by a factor of 2x on an annualized basis under the direction of Managing Partner Mark Viviano. Prior to joining Kimmeridge, Mr. Viviano spent nearly 20 years at Wellington Management, where he was responsible for company-wide equity research for the E&P sector in North America and internationally, and also served as co-portfolio manager for global natural resources and energy opportunities strategies. www.kimmeridge.com
Cautionary note regarding forward-looking statements
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities mentioned herein to any person in any state. The information contained herein contains “forward-looking statements.” Certain forward-looking statements do not relate strictly to historical or current facts and can be identified by the fact that they include, without limitation, terminology such as “may,” “will,” “expect,” “believe,” “anticipate,” “plan,” “estimate,” “project,” “could,” “goal,” “predict,” “seek,” “could,” “should,” or the negative of such terms. Variations or equivalent terms of such terms. Similarly, statements that describe our objectives, plans and goals are forward-looking. Forward-looking statements involve various risks, uncertainties and assumptions. There is no guarantee that the ideas or assumptions expressed herein are correct or will prove to be correct. Additionally, there can be no assurance that the objectives, plans or goals set forth herein will ultimately be carried out or achieved. If one or more of such risks or uncertainties materialize, or if Kimmeridge’s underlying assumptions prove incorrect, actual results may differ materially from those expressed in these statements. Accordingly, forward-looking statements should not be considered a representation by Kimmeridge that any contemplated future plans, estimates or expectations will necessarily be achieved.
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