Form 8-K · Current report
Devon Energy 8-K, filed Nov 5, 2026
- Filed
- CIK
- 0001090012
- Accession no.
- 0001193125-26-449884
Summary
Devon Energy reported third-quarter 2026 net earnings of $1.0 billion ($0.88 per diluted share) and core earnings of $1.6 billion ($1.42 per diluted share) on production of 1,668,000 barrels of oil equivalent per day, and reaffirmed its full-year 2026 production and capital guidance. The company disclosed a definitive agreement, announced October 8, to sell its Eagle Ford assets for $4.2 billion in cash with closing expected in early 2027, raised its merger synergy outlook, and said it would accelerate share repurchases to more than $1 billion in the fourth quarter.
Key points
- Devon expects 2027 oil production of approximately 525,000 barrels per day and total production of approximately 1,600,000 Boe per day on total capital of approximately $5.3 billion, pro forma for the Eagle Ford sale.
- Devon retired the remaining $750 million of its term loan during the quarter, bringing debt reduction since merger close to $1.25 billion, and plans to retire an additional $1.5 billion of long-term debt to reach its $9 billion gross debt target in early 2027.
- Devon raised its expected year-end 2026 synergy run rate to approximately $350 million, 75% above the prior plan, with about $700 million of average synergies expected in 2027 and at least $1.0 billion annual pre-tax run-rate synergies by year-end 2027.
- Devon acquired a 25% interest in the Solitude Pipeline System, a joint venture building two natural gas pipelines from the Permian Basin to the Texas Gulf Coast, and secured firm transportation capacity on it.
Written by an AI model from the filing text. It can be incomplete or wrong; the filing on SEC.gov is the record.
Items reported
- 2.02Results of Operations and Financial Condition
- 9.01Financial Statements and Exhibits
From the filing
Item 2.02 Results of Operations and Financial Condition. On November 5, 2026, Devon Energy Corporation (the “Company”) announced its financial and operational results for the quarterly period ended September 30, 2026. In connection with this announcement, the Company provided an earnings release and certain supplemental financial information (including guidance and hedging information). Copies of these documents are furnished as Exhibits 99.1 and 99.2, respectively, to this report and, along with certain other materials (including a letter to stockholders) will be available on the Company’s website at www.devonenergy.com. …
An excerpt of the text as filed with the SEC, cut for length.
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