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United States

Devon Energy Corp (DVN.N)

DVN.N on New York Stock Exchange

22.54USD
16 Aug 2019
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Latest Key Developments (Source: Significant Developments)

Devon Energy Says For H2 2019, Expect Strongest Oil Growth To Occur In Q4 - Conf Call
Wednesday, 7 Aug 2019 09:19am EDT 

Aug 7 (Reuters) - Devon Energy Corp ::DEVON ENERGY CORP - FOR H2 2019, WE EXPECT STRONGEST OIL GROWTH TO OCCUR IN Q4 DRIVEN BY THE TIMING OF ACTIVITY IN THE DELAWARE - CONF CALL.DEVON ENERGY - MADE DECISION TO REDUCE ACTIVITY SOMEWHAT IN STACK, REALLOCATE CAPITAL OUT TO DELAWARE, THE ROCKIES GIVEN HIGHER RETURNS - CONF CALL.DEVON ENERGY - LOOKS LIKE WE'RE GOING TO HAVE A REALLY STRONG Q4, BASED ON A SLIGHTLY HIGHER CAPITAL SPEND THAT WE HAVE FOR Q3 - CONF CALL.DEVON ENERGY - ANTICIPATE A VERY STRONG END OF THE YEAR THAT'S GOING TO GIVE US A LOT OF OPERATION MOMENTUM AS WE GO INTO 2020 - CONF CALL.DEVON ENERGY - DATA ROOM PROCESS FOR BARNETT HAS A MUCH DEEPER AND BROADER MIX OF PARTICIPANTS COMPARED TO CANADIAN ASSETS - CONF CALL.  Full Article

Devon Energy Says Will Redeem $1.5 Billion In Senior Notes
Thursday, 27 Jun 2019 04:52pm EDT 

June 27 (Reuters) - Devon Energy Corp ::DEVON ENERGY ANNOUNCES EARLY REDEMPTION OF SENIOR NOTES.DEVON ENERGY CORP - WILL REDEEM $1.5 BILLION IN SENIOR NOTES.DEVON ENERGY - REDEMPTION COVERS ALL OF OUTSTANDING 4.00% SENIOR NOTES DUE 2021 AND 3.25% SENIOR NOTES DUE 2022..  Full Article

Devon Energy Sets Quarterly Cash Dividend Of $0.09 Per Share
Wednesday, 5 Jun 2019 10:46am EDT 

June 5 (Reuters) - Devon Energy Corp ::DEVON ENERGY ANNOUNCES THIRD-QUARTER 2019 CASH DIVIDEND FOR COMMON STOCKHOLDERS.DEVON ENERGY CORP - QUARTERLY CASH DIVIDEND OF $0.09 PER SHARE.  Full Article

Devon Energy Reports First-Quarter 2019 Results
Tuesday, 30 Apr 2019 04:05pm EDT 

April 30 (Reuters) - Devon Energy Corp ::DEVON ENERGY REPORTS FIRST-QUARTER 2019 RESULTS.IN THE FIRST QUARTER, DEVON REPORTED A NET LOSS OF $317 MILLION, OR $0.74 PER DILUTED SHARE.IN THE FIRST QUARTER, DEVON’S CORE EARNINGS TOTALED $0.36 PER DILUTED SHARE.QTRLY LOSS WAS ATTRIBUTABLE TO A $670 MILLION NON-CASH CHARGE RELATED TO FAIR VALUE CHANGES IN THE COMPANY’S DERIVATIVE POSITION.UPSTREAM REVENUE, EXCLUDING COMMODITY DERIVATIVES, $1.4 BILLION IN QUARTER, A 24 PERCENT INCREASE VERSUS FOURTH QUARTER OF 2018.QTRLY TOTAL OIL EQUIVALENT PRODUCTION NET OF ROYALTIES OF 529 MBOE/D VERSUS 544 MBOE/D REPORTED LAST YEAR.SEES Q2 TOTAL OIL EQUIVALENT PRODUCTION OF 489 MBOE/D TO 524 MBOE/D.SEES FY TOTAL OIL EQUIVALENT PRODUCTION OF 506 MBOE/D TO 540 MBOE/D.SEES Q2 CAPITAL EXPENDITURES $565-$640 MILLION.QTRLY TOTAL REVENUES $1,501 MILLION VERSUS $2,198 MILLION.SEES FY CAPITAL EXPENDITURES $2,050 MILLION-$ 2,310 MILLION.Q1 EARNINGS PER SHARE VIEW $0.28, REVENUE VIEW $2.50 BILLION -- REFINITIV IBES DATA.  Full Article

Devon Energy Increases Cash Dividend
Wednesday, 7 Mar 2018 04:12pm EST 

March 7 (Reuters) - Devon Energy Corp ::DEVON ENERGY INCREASES CASH DIVIDEND 33 PERCENT, ANNOUNCES $1.0 BILLION SHARE-REPURCHASE PROGRAM AND PROGRESSES DEBT REDUCTION PLAN.DEVON ENERGY CORP - NEW QUARTERLY DIVIDEND RATE WILL BE $0.08 PER SHARE.DEVON ENERGY CORP - BOARD OF DIRECTORS AUTHORIZED A $1.0 BILLION SHARE-REPURCHASE PROGRAM OF COMPANY'S COMMON STOCK.  Full Article

Devon Energy ‍To Sell Southern Portion Of Its Barnett Shale Position
Wednesday, 7 Mar 2018 04:12pm EST 

March 7 (Reuters) - Devon Energy Corp ::DEVON ENERGY CORP - ‍TO SELL SOUTHERN PORTION OF ITS BARNETT SHALE POSITION FOR $553 MILLION​.  Full Article

Devon Energy CEO Says Higher Dividends, Stock Buybacks Possible In Future
Wednesday, 21 Feb 2018 11:30am EST 

Feb 21 (Reuters) - Devon Energy Corp ::CHIEF EXECUTIVE DAVE HAGER SAYS NEAR-TERM PRIORITY FOR CASH IS TO CUT DEBT.CEO SAYS STOCK BUYBACK NOT THE BEST MOVE FOR COMPANY RIGHT NOW.CEO SAYS HIGHER DIVIDENDS, STOCK BUYBACKS POSSIBLE IN FUTURE.CEO: 'THERE WILL BE INCREASING SHAREHOLDER RETURNS THIS YEAR'.CEO SAYS WILL SIMPLIFY PORTFOLIO BY SELLING ASSETS, BUT DECLINES TO SAY WHICH ASSETS.EXPECTS OILFIELD SERVICE COST INFLATION IN 2018 OF ABOUT MID- TO HIGH-SINGLE DIGITS.SAYS HAS RIGS NEEDED UNDER CONTRACT TO COMPLETE 2018 DRILLING PROGRAM.SAYS PLANS TO CUT RIG COUNT DURING YEAR FROM 20 TO ABOUT 16 OR 17 DUE TO IMPROVING EFFICIENCIES.SAYS HAS 'LARGELY SECURED' PRESSURE PUMPING NEEDS FOR 2018, WITH PLANS TO USE 7 FRACKING CREWS.SAYS HAS CONTRACTS IN PLACE FOR 'MAJORITY' OF REQUIREMENTS FOR SAND, WATER AND CHEMICALS IN 2018.CEO DESCRIBES THE DELAWARE AND STACK AS THE COMPANY'S TWO KEY CORE ASSETS.CEO SAYS UNDERSTANDS THE 'OPTIONALITY' AROUND OTHER ASSETS IN THE PORTFOLIO.  Full Article

Devon Energy Announces Q4 Earnings Per Share $0.35
Tuesday, 20 Feb 2018 05:10pm EST 

Feb 20 (Reuters) - Devon Energy Corp ::DEVON ENERGY ANNOUNCES THREE-YEAR OUTLOOK AND DETAILED 2018 GUIDANCE; REPORTS FOURTH QUARTER EARNINGS RESULTS.QTRLY TOTAL OIL EQUIVALENT PRODUCTION OF 548 MBOE/D VERSUS 537 MBOE/D.DEVON ENERGY - CHANGES TO U.S. TAX LEGISLATION DID NOT HAVE MATERIAL IMPACT TO DEVON’S Q4 RESULTS.Q4 EARNINGS PER SHARE $0.35.Q4 ADJUSTED CORE EARNINGS PER SHARE $0.38 EXCLUDING ITEMS.QTRLY TOTAL REVENUES $3,983 MILLION VERSUS $2,808 MILLION.Q4 EARNINGS PER SHARE VIEW $0.63, REVENUE VIEW $3.52 BILLION -- THOMSON REUTERS I/B/E/S.QTRLY UPSTREAM REVENUES $1,333 MILLION VERSUS $988 MILLION.SEES Q1 DEVON CAPITAL EXPENDITURES OF $585 MILLION TO $700 MILLION.SEES Q1 TOTAL OIL EQUIVALENT PRODUCTION OF 530 MBOE/D TO 554 MBOE/D.SEES FY TOTAL OIL EQUIVALENT PRODUCTION OF 552 MBOE/D TO 576 MBOE/D.SEES FY DEVON CAPITAL EXPENDITURES OF $2,335 MILLION TO $2,615 MILLION.  Full Article

Devon energy reports third-quarter 2017 results
Tuesday, 31 Oct 2017 04:01pm EDT 

Oct 31 (Reuters) - Devon Energy Corp :Devon Energy reports third-quarter 2017 results.Q3 adjusted core earnings per share $0.46 excluding items.Q3 earnings per share view $0.38 -- Thomson Reuters I/B/E/S.Devon Energy Corp qtrly total revenue and other $‍3,156​ million versus $4,233 million.Devon Energy Corp - qtrly total oil equivalent production of ‍527 ​mboe/d versus 577 MBoe/d.Devon Energy Corp qtrly oil, gas and NGL sales $‍1,245​ million versus $1,113 million.Devon Energy Corp - due to positive operating trends, devon expects E&P capital spending to range from $2.0 billion to $2.1 billion in 2017.Devon Energy - not made changes to 2017 planned activity levels; on track to run about 20 development rigs across U.S. resource plays by end of 2017‍​.Devon Energy Corp sees Q4 total oil equivalent production 551 MBoe/d to 571 MBoe/d‍​.Devon Energy Corp qtrly ‍shr $0.43​.Q3 revenue view $3.17 billion -- Thomson Reuters I/B/E/S.  Full Article

Devon Energy provides hurricane Harvey production update
Friday, 15 Sep 2017 09:20am EDT 

Sept 15 (Reuters) - Devon Energy Corp :Devon Energy provides hurricane Harvey production update.Devon Energy - ‍as precautionary measure for hurricane Harvey, co temporarily suspended operations and shut-in production across its entire Eagle Ford​.Devon Energy Corp - ‍restored production to pre-storm levels across its U.S. operations following hurricane Harvey​.Devon Energy Corp - ‍company has now resumed production from all producing pads in Eagle Ford​.Devon Energy - co estimates impact of hurricane Harvey to reduce net liquids production in Eagle Ford, areas of U.S. by 15,000 barrels per day in Q3.Devon Energy - expects one-time production impact to be confined to Q3 and it represents one-half of 1 percent of co's total expected volumes for FY 2017.Devon Energy - ‍many third-party petrochemical facilities across gulf coast region have now restarted, are in process of ramping up to pre-storm capacity​.Devon - ‍temporary storm-related limitations in downstream petrochemical capacity in Gulf coast region curtailed production in some U.S. operations​ areas.  Full Article

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Devon Energy profit beats, raises oil output forecast

Devon Energy Corp raised its full-year oil output forecast and beat estimates for quarterly profit on Tuesday, as the U.S. oil and gas producer drilled more in Delaware basin and sold it at higher prices while keeping a tight lid on expenses.