DVN · 10-Q · 2026Q2 · Full report

Geographic Market Commentary

DEVON ENERGY CORP/DE · 2026-08-05 · Importance 23 · Surprise 24

Permian natural-gas realizations were pressured by expanded regional differentials and negative spot pricing at the Waha hub during the second quarter of 2026. Basis differentials began improving in June 2026, indicating some near-term stabilization in Permian gas market conditions. Devon expects further improvement as additional takeaway capacity enters service in the second half of 2026 and early 2027. The post-combination portfolio also adds material production exposure in the Anadarko and Marcellus regions.

Key facts

• Devon is focused onshore in the United States with operations currently focused in five core areas: Permian Basin, Rockies, Eagle Ford, Anadarko Basin and Marcellus Shale. source