Devon Energy Reports Second-Quarter Results and Declare Quarterly Dividend

Details

The company reported net earnings of $899 million, or $1.41 per diluted share, and core earnings of $536 million, or $0.84 per diluted share. Production averaged 841,000 barrels of oil equivalent per day, exceeding the top-end of guidance. Devon also declared a fixed quarterly cash dividend of $0.24 per share, payable on September 30, 2025. Additionally, the company announced two new marketing agreements to diversify its natural gas portfolio. Financial results and additional details are available in the furnished exhibits.

Items reported

Exhibits (2)

About Devon Energy Corporation

Devon Energy Corporation is a prominent player in the energy sector, specializing in the exploration, development, and production of oil and natural gas. With its corporate headquarters located in Oklahoma City, Oklahoma, Devon Energy operates principally across the United States. Its portfolio encompasses some of the most resource-rich areas, such as the Delaware Basin within the greater Permian Basin, Eagle Ford, Anadarko Basin, Powder River Basin, and the Williston Basin. The company's primary function is to harness and maximize value from its substantial onshore oil and gas reserves, making substantial contributions to the energy supply chain. Devon Energy is noted for its strategic focus on efficient and sustainable practices in hydrocarbon extraction and production. It plays a critical role in the U.S. energy landscape, providing resources essential for various sectors including transportation, manufacturing, and residential energy needs. Through innovative drilling and operating techniques, Devon Energy pursues operational excellence while remaining committed to reducing its environmental footprint and enhancing the safety of its operations.