DVN · 10-Q · 2026Q2 · Full report

Headcount / Restructuring

DEVON ENERGY CORP/DE · 2026-08-05 · Importance 52 · Surprise 42

Devon recorded $238 million of restructuring and transaction costs during the first six months of 2026, with the majority recognized in the second quarter. The charges primarily relate to employee costs and transaction costs associated with the Coterra merger. Additional cash costs are expected primarily through the end of 2027, with payments beyond 2026 relating mainly to employee severance benefits. Merger-related payments also include vendor-contract modification or abandonment costs and accelerated employee benefits.

Key facts

• Merger-related restructuring and transaction cost cash outflows were paid in the first six months of 2026, with additional costs expected to be paid primarily through the end of 2027, and payments extending beyond 2026 relate primarily to employee severance benefits. source
• G&A per Boe was $1.41 in Q2 2026, down from $1.67 in Q1 2026 (a 15% decrease). source
• Restructuring and transaction costs reflect employee related costs and various transaction costs related to the Merger, with the majority of these costs recorded in the second quarter of 2026. source