DVN · 10-Q · 2026Q2 · Full report
Guidance / Outlook
DEVON ENERGY CORP/DE · 2026-08-05 · Importance 75 · Surprise 60 · In source text
Devon expects third-quarter 2026 production of approximately 1,660 to 1,690 MBoe/d, reflecting a full quarter of Coterra legacy production. Management remains on track to deliver at least $1.0 billion of annual pre-tax merger synergies by year-end 2027, including approximately $600 million in 2027. The company expects its capital plan to remain achievable under its current commodity-price environment and hedge position, while maintaining capital discipline and moderated production growth. Devon had approximately 30% of remaining 2026 oil production and 25% of remaining 2026 gas production hedged, compared with 15% and 10%, respectively, for anticipated 2027 production.
Key facts
- Devon is on track to deliver at least $1.0 billion of annual pre-tax run-rate synergies by year-end 2027, with approximately $600 million expected to be captured in 2027. source
- The Merger is expected to capture $1.0 billion in sustainable annual pre-tax synergies. source
- Volumes in the third quarter for the combined company are expected to range from approximately 1,660 to 1,690 MBoe/d. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| operating_income | positive | committed | +7.3% | Devon is on track to deliver at least $1.0 billion of annual pre-tax run-rate synergies by year-end 2027, with approximately $600 million… |
| revenue | unclear | probable | — | Volumes in the third quarter for the combined company are expected to range from approximately 1,660 to 1,690 MBoe/d. |