⛽Devon Energy and another step in the acquisition field! 🌍

Devon Energy $DVN is a leading U.S. oil and gas company headquartered in Oklahoma. The company is focused on oil and gas exploration, development and production, with its primary activities concentrated in the Permian Basin, one of the most significant oil fields in the US.

The oil sector is experiencing a wave of mergers and acquisitions by producers. The biggest players in the market, including ConocoPhillips $COP, have already made significant acquisitions that will help them fight off competition.

In recent months ,Devon Energy has tried to make several acquisitions, unfortunately without success so far. A recent effort to buy Marathon Oil $MRO, however, ended up in the hands ofConocoPhillips for $22.5 billion. Similarly, an attempt to acquire CrownRock or Enerplus $ERF failed.

Interesting alternatives that will help the company Devon Energy to maintain its market position:

Ovintiv $OVV: This company produces oil and natural gas in theUS and Canada. The acquisition would strengthen Devon' s position in the Permian and Anadarko regions.

Permian Resources $PR: Focused on the Permian Basin, their recent acquisitions could significantly strengthen Devon' s position in this key region.

Civitas Resources $CIVI: Operates in Colorado's DJ Basin and the Permian Basin. The recent acquisition of Vencer Energy for $2.1 billion could be strategically advantageous for Devon.

Despite setbacks, many solid acquisition opportunities remain. Devon Energy is known for its strategy and is not willing to overpay for deals just to keep up with the competition. This strategy may pay off in the long run as competition for the remaining acquisition targets is reduced.

What are your thoughts on this company and possible acquisitions to keep up with the competition?