DVN · News · 20260805N
Guidance / Outlook
DEVON ENERGY CORP/DE · 2026-08-05 · Importance 69 · Surprise 60 · No source text
Devon reaffirmed its full-year 2026 guidance following second-quarter results. Third-quarter 2026 production guidance was raised to 1.660 million–1.690 million barrels of oil equivalent per day, including oil production of 550,000–560,000 barrels per day. The company also provided positive expectations for third-quarter capital spending and reported that second-quarter oil and total production reached the high end of guidance. The outlook reflects contributions from the Coterra merger and strong Delaware Basin well performance.
Key facts
- The Coterra merger increased Devon's production by 66% and lowered costs by $1/BOE, and the combined company targets $1 billion in pre-tax synergies by 2027 (Seeking Alpha). source
- Devon raised Q3 2026 production guidance to 1,660,000 to 1,690,000 Boe per day and oil guidance to 550,000 to 560,000 barrels of oil per day. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| operating_income | positive | probable | +6.7% | The Coterra merger increased Devon's production by 66% and lowered costs by $1/BOE, and the combined company targets $1 billion in pre-tax… |
| operating_income | positive | probable | — | The Coterra merger increased Devon's production by 66% and lowered costs by $1/BOE, and the combined company targets $1 billion in pre-tax… |
| revenue | positive | probable | — | Devon raised Q3 2026 production guidance to 1,660,000 to 1,690,000 Boe per day and oil guidance to 550,000 to 560,000 barrels of oil per… |