Quarterly ResultAug 4, 2026, 04:25 PM
Devon Energy Q2 Net Earnings $1.9B; Oil Production 503K Bbl/Day
AI Summary
Devon Energy reported strong second-quarter 2026 results, with net earnings of $1.9 billion ($2.03 per diluted share) and adjusted free cash flow of $1.7 billion. The company achieved oil production of 503,000 barrels per day, meeting the top end of guidance, and completed its merger with Coterra Energy. Devon also returned over $1 billion to shareholders through dividends and share repurchases, acquired new acreage in the Delaware Basin for $2.6 billion, and is on track to deliver $1.0 billion in annual synergies.
Key Highlights
- Net earnings of $1.9 billion, or $2.03 per diluted share.
- Adjusted free cash flow of $1.7 billion generated in Q2 2026.
- Oil production averaged 503,000 barrels per day, reaching top-end of guidance.
- Capital expenditures totaled $1,269 million, 2% below midpoint guidance.
- Returned $1,063 million to shareholders through dividends and share repurchases.
- Acquired 16,300 net acres in Delaware Basin for $2.6 billion.
- On track to deliver at least $1.0 billion in annual synergies by year-end 2027.
- Q3 2026 oil production guidance set at 550,000-560,000 barrels per day.
Price Impact
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