Form 10-Q · Quarterly report
Devon Energy 10-Q, filed Aug 5, 2026
- Filed
- CIK
- 0001090012
- Accession no.
- 0001193125-26-334340
Summary
Devon Energy closed its all-stock merger of equals with Coterra Energy on May 7, 2026, and reported second-quarter 2026 production of 1,359 MBoe/d, net earnings of $1.9 billion, and $3.7 billion of operating cash flow. Devon announced an $8.0 billion share repurchase program and acquired about 16,300 net acres in the Permian Basin for roughly $2.6 billion through a federal lease sale, and it expects $1.0 billion in annual pre-tax merger synergies by year-end 2027.
Key points
- Devon Energy reported second-quarter 2026 oil production of 503 MBbls/d and total production of 1,359 MBoe/d.
- Devon retired $500 million of debt, paid $366 million in dividends, and exited the quarter with $4.0 billion of liquidity, including $1.0 billion of cash.
- Devon expects third-quarter 2026 combined production of approximately 1,660 to 1,690 MBoe/d.
- Devon recognized a $201 million gain on its Fervo investment and $246 million in restructuring and transaction costs.
Written by an AI model from the filing text. It can be incomplete or wrong; the filing on SEC.gov is the record.
From the filing
Item 2. Management’s Discussion Executive Overview We are a leading independent oil and natural gas exploration and production company whose operations are focused onshore in the United States. Our operations are currently focused in five core areas: Permian Basin, Rockies, Eagle Ford, Anadarko Basin and Marcellus Shale. Our asset base is underpinned by premium acreage in the economic core of the Permian Basin and our diverse, top-tier resource plays, providing a deep inventory of opportunities for years to come. On February 1, 2026, we entered into the Merger Agreement providing for an all-stock merger of equals with Coterra, which successfully closed on May 7, 2026. …
An excerpt of the text as filed with the SEC, cut for length.
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