DVN · 8-K · 20261105PR449884

Operating Expense Trends

DEVON ENERGY CORP/DE · 2026-11-05 · Importance 89 · Surprise 82

Devon reported an expected year-end 2026 annualized pretax synergy run rate of approximately $350 million, 75% above the $200 million exit rate outlined in August. The increase is expected to come from capital optimization, operating margin improvements, and corporate cost reductions. Average synergies in 2027 are now expected to be approximately $700 million, up from $600 million previously, with at least $1.0 billion of annual pretax run-rate synergies expected by year-end 2027.

Key facts

• Devon’s third-quarter cash costs, including production, general and administrative, and financing expenses, were $12.89 per Boe, approximately 2% below the midpoint of guidance. source
• Devon’s third-quarter gathering, processing and transportation expense was $3.20 per Boe, below its guidance range. source
• Devon’s third-quarter general and administrative expense was $1.18 per Boe, below its guidance range. source
• Devon’s third-quarter lease operating expenses were slightly above the quarterly guidance range due to higher workover activity and third-party water disposal. source