DVN · 10-Q · 2026Q3 · Full report

Capital Expenditure Program

DEVON ENERGY CORP/DE · 2026-11-06 · Importance 70 · Surprise 56 · Matches filing data

Capital expenditures were $3.621 billion for the first nine months of 2026, compared with $2.760 billion in the prior-year period, and represented approximately 45% of operating cash flow. The increase primarily reflected the May 7 merger and activity from Coterra legacy assets in the Permian, Anadarko and Marcellus. Devon also spent approximately $2.8 billion on property acquisitions, primarily state and federal land sales in the Permian, during the first nine months of 2026. The capital budget for the remainder of 2026 was approximately $1.3 billion to $1.4 billion and included Eagle Ford assets through the expected sale closing.

Key facts

• Devon completed approximately $2.8 billion of property acquisitions primarily related to state and federal land sales in the Permian during the first nine months of 2026. source
• Devon’s capital expenditures were $3.621 billion in the first nine months of 2026, approximately 45% of operating cash flow. source
• Devon’s 2026 capital expenditures increased primarily because the May 7, 2026 merger added activity from Coterra legacy assets in the Permian, Anadarko and Marcellus. source

Impact estimates