Edition:
United States

Devon Energy Corp (DVN.N)

DVN.N on New York Stock Exchange

37.68USD
15 Dec 2017
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$-0.32 (-0.84%)
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Latest Key Developments (Source: Significant Developments)

Devon Energy reports qtrly total revenues $3,547 million
Tuesday, 2 May 2017 04:07pm EDT 

May 2 (Reuters) - Devon Energy Corp :Devon Energy reports first-quarter results.Q1 adjusted core earnings per share $0.41 excluding items.Q1 earnings per share view $0.40 -- Thomson Reuters I/B/E/S.Qtrly oil production averaged 261,000 barrels per day, a 7 percent increase compared to Q4 of 2016.Devon Energy- Qtrly total companywide production averaged 563,000 oil-equivalent barrels per day in Q1, a 5 percent increase compared to Q4 of 2016.Devon Energy Corp - Qtrly total revenues $3,547 million versus $2,126 million.Devon expects oil production to range from 230,000 to 240,000 barrels per day in Q2.Devon Energy Corp - Devon expects oil production to range from 230,000 to 240,000 barrels per day for Q2.Devon Energy Corp- Company's capital and production plan is on track for both first half of 2017 and full year..Devon Energy Corp - Qtrly oil, gas and NGL sales $1,309 million versus $825 million.Devon Energy Corp - Due to efficiency gains, company and its partner brought online more wells in eagle ford than planned in Q1.Q1 earnings per share $1.07.Devon Energy Corp sees Q2 capital expenditures $600 million - $ 675 million.Devon Energy Corp - Low cost structure is expected to further improve on a per-unit basis in second half of 2017.  Full Article

Devon Energy announces $1 billion divestiture plan
Tuesday, 2 May 2017 04:01pm EDT 

May 2 (Reuters) - Devon Energy Corp :Devon Energy announces $1 billion divestiture plan.Devon Energy Corp - Devon expects to commence divestiture program in Q2 of 2017.Devon Energy Corp - Expects to complete sale process over next 12 to 18 months.Devon Energy Corp - Company plans to deploy divestiture proceeds toward its U.S. resource plays.Devon Energy Corp - Non-core divestiture plan is also expected to accelerate Devon's transition to higher-margin production.Devon Energy Corp - Divestiture program among others places co firmly on track to achieve production growth targets in 2017 and 2018.Devon Energy Corp - Intent to divest approximately $1 billion of upstream assets across its portfolio.Devon energy corp - non-core assets identified for monetization include select portions of barnett shale focused primarily around Johnson County.Devon Energy Corp - Non-core assets identified for monetization also include other properties located principally within company's U.S. resource base.Devon Energy Corp - Company would evaluate strategic options for additional non-core asset sales.  Full Article

Devon Energy promotes Jeff Ritenour to CFO
Wednesday, 19 Apr 2017 04:55pm EDT 

April 19 (Reuters) - Devon Energy Corp ::Devon Energy promotes Jeff Ritenour to chief financial officer.Devon's incumbent cfo, Tom Mitchell, is leaving company.  Full Article

Devon Energy Corp reported oil production averaged 244,000 barrels per day in Q4 of 2016
Tuesday, 14 Feb 2017 04:23pm EST 

Devon Energy Corp : Devon Energy reports fourth-quarter and full-year 2016 results; provides updated capital and production outlook . Devon Energy Corp - Reported oil production averaged 244,000 barrels per day in Q4 of 2016 . Devon Energy Corp sees Q1 capital expenditures in range $525 million - $595 million . Sees Q1 2017 oil equivalent total production between 535 mboe/d to 555 mboe/d . Devon Energy Corp sees full year 2017 capital expenditures in range $2,285 million - $2,690 million . Devon Energy Corp qtrly total revenues and other $3,350 million versus $2,886 million . Devon Energy Corp qtrly oil, gas and NGL sales $1,159 million versus $1,118 million . Sees FY 2017 oil equivalent total production between 539 mboe/d to 561 mboe/d . Devon Energy Corp - In 2017, Devon expects to further accelerate activity in its U.S. resource plays to as many as 20 operated rigs by year end . Sees operating profits will advance to a range of $900 million to $950 million for 2017 . Devon Energy- Expects to invest between $2.0 billion and $2.3 billion of E&P capital in 2017, with nearly 90 percent of capital devoted to U.S. resource plays .Devon Energy -Devon's upstream capital plans are expected to drive 13 to 17 percent oil production growth in U.S. during 2017 compared to Q4 of 2016.  Full Article

Devon Energy announces tender offers for up to $1 billion
Monday, 5 Dec 2016 05:17pm EST 

Devon Energy Corp : Devon Energy announces tender offers for up to $1 billion aggregate purchase price for certain outstanding debt securities . Devon Energy Corp says tender offers will expire at 11:59 P.M., New York city time, on Jan. 3, 2017 .Devon Energy will fund tender offers with net proceeds from previously completed asset sales and financing transactions..  Full Article

Devon Energy declares quarterly cash dividend of $0.06/share
Wednesday, 30 Nov 2016 10:00am EST 

Devon Energy Corp : Declared a quarterly cash dividend on Devon's common stock for Q1 of 2017 .Quarterly dividend is payable on March 31, 2017, at a rate of $0.06 per share based on a record date of March 15, 2017.  Full Article

Devon Energy announces pricing of maximum tender offers
Thursday, 18 Aug 2016 05:04pm EDT 

Devon Energy Corp : Devon Energy announces pricing of maximum tender offers .Amended tender offers to increase repurchase amount from about $535.4 million to amount necessary to pay consideration for 2.250% notes due 2018.  Full Article

Devon Energy announces early tender results
Thursday, 18 Aug 2016 08:00am EDT 

Devon Energy : Devon Energy announces early tender results and upsizing of maximum tender offers .Amended maximum tender offers to increase aggregate maximum repurchase t from approximately $535.4 million of 8.250 pct notes due 2018.  Full Article

Devon Energy posts Q2 core shr $0.06; sees FY oil equivalent production of 598-623 MBOE/D
Tuesday, 2 Aug 2016 04:15pm EDT 

Devon Energy Reports Second : Raised 2016 production guidance for retained assets by 3 percent . Q2 loss per share $3.04 . Q2 earnings per share view $-0.19 -- Thomson Reuters I/B/E/S . Q2 total operating revenue $2,488 million versus. $3,393 million last year . Q2 revenue from oil, natural gas and natural gas liquids sales totaled $1,085 million versus. $1,587 million last year . Devon's reported net production averaged 644,000 oil-equivalent barrels (boe) per day during q2 of 2016 . "now on pace to reduce operating and g&a expenses by nearly $1 billion in 2016" . Legacy midland basin assets have extremely low declines and are expected to produce approximately 15,000 BOE per day in H2 2016 . Sees 2016 capital expenditures $1,370 million - $1,645 million . Raising mid-point of its 2016 production guidance from its retained, go-forward asset base by 18,000 boe per day, or 3 percent . Sees FY oil equivalent total production between 598 mboe/d to 623 mboe/d . Qtrly core earnings per share $0.06 . Completed asset divestiture program with proceeds totaling $3.2 billion . Sees q3 oil equivalent total production between 560 mboe/d to 590 mboe/d . Lowering its full-year 2016 loe outlook by $150 million to a range of $1.6 billion to $1.7 billion . On track to reduce LOE and production taxes by nearly $600 million compared to 2015.  Full Article

Wolf Midstream says deal to be funded through investment by CPPIB
Thursday, 14 Jul 2016 06:14am EDT 

Wolf Midstream Inc: Wolf Midstream Inc signs agreement to acquire 50 pct interest in access pipeline in Alberta for $1.4 billion .Deal will be funded at closing by Wolf through an investment by CPPIB of approximately $825 million and third-party debt financing.  Full Article

BRIEF-Devon Energy announces 5,100 BOE/day stack well offsetting Coyote development

* Devon energy announces 5,100 BOE per day stack well offsetting coyote development