DVN · News · 20260808N

Outstanding Indebtedness

DEVON ENERGY CORP/DE · 2026-08-08 · Importance 58 · Surprise 42

Devon repaid approximately $1.25 billion of debt during the second quarter. The company reported completing its 2026 debt-reduction target and is targeting net debt to EBITDAX of 0.6 times by year-end. Debt reduction was funded alongside $1.7 billion of adjusted free cash flow and more than $1 billion of total shareholder returns. Management is prioritizing debt reduction over variable dividends as part of its post-merger capital allocation strategy.

Key facts

• MarketBeat reported Devon identified over 350 synergy initiatives and completed its 2026 debt-reduction target during the Q2 integration with Coterra. source