The energy industry has undergone tremendous changes in recent years. Volatile prices have forced the sector to look for ways to cut costs. One method many oil companies have used to slash expenses is to merge with a peer to eliminate redundant costs and boost their free cash flow.

Those cost-saving moves are paying big dividends this year now that prices are higher. Many oil stocks are producing gushing cash flows, enabling them to pay generous dividends. Two big-time dividend stocks that income investors won't want to overlook are Chord Energy (NASDAQ: CHRD) and Coterra Energy (NYSE: CTRA). They can be easy to miss since most investors likely aren't familiar with these new names.

Chord Energy was formed earlier this year following the merger of equals transaction between Oasis Petroleum and Whiting Petroleum. That combination created a larger-scale producer with a premier position in the Williston Basin. That scale advantage positions the company to produce lots of free cash flow. 

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Source Fool.com