Activist investor TOMS Capital urges Devon Energy to accelerate the pace of asset sales

Glonghui, June 18 – According to informed sources, activist investor TOMS Capital Investment Management has acquired a large number of shares in Devon Energy and is urging the U.S. shale oil and gas operator to sell assets or consider a full company sale. In May, Devon Energy completed a $58 billion merger with Coterra Energy and is currently working on the post-merger company’s strategy. Its operations cover six shale basins, with a dominant presence in the Permian Basin in Texas and New Mexico.