DVN · 10-Q · 2026Q3

DEVON ENERGY CORP/DE

Filed 2026-11-06 · Energy · View original filing on EDGAR

Everything DVN's SEC filings said, ranked

Ranked Events

• Acquisition / Partnership / DivestitureImportance 71 · Surprise 60
  Devon and Coterra completed an all-stock merger of equals on May 7, 2026, with $24.9 billion of purchase-price consideration allocated to acquired assets and assumed liabilities. Devon assumed approximately $3.5…
• Capital Expenditure ProgramImportance 70 · Surprise 56
  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…
• Capital Return ProgramImportance 64 · Surprise 42
  Devon announced an $8.0 billion share repurchase program after the merger, expiring June 30, 2029. The company repurchased approximately 8.9 million shares for $415 million, or $46.96 per share, in Q3 2026, and had…
• Operating Cash Flow TrendsImportance 64 · Surprise 56
  Operating cash flow was $2.808 billion in Q3 2026, compared with $1.690 billion in Q3 2025. For the first nine months of 2026, operating cash flow increased approximately 57% to $8.137 billion from $5.177 billion,…
• Production Expense TrendsImportance 64 · Surprise 56
  Third-quarter production expenses increased to $1.651 billion from $1.393 billion in Q2 2026, primarily because the quarter included a full quarter of costs for Coterra legacy assets. For the first nine months of 2026,…
• Revenue Performance and MixImportance 59 · Surprise 48
  For the first nine months of 2026, changes in realized prices contributed $2.5 billion to the increase in earnings, primarily due to higher unhedged realized oil and NGL prices. Combined realized price with hedges rose…
• Upstream Production VolumeImportance 53 · Surprise 48
  Third-quarter 2026 production totaled 1,668 MBoe/d, including 553 MBbls/d of oil. Combined production increased from 1,359 MBoe/d in Q2 2026, contributing $669 million to the sequential increase in earnings. The…
• Outstanding IndebtednessImportance 46 · Surprise 42
  Devon retired $1.25 billion of debt during the first nine months of 2026, including repayment of its $1.0 billion Term Loan, and retired $750 million in Q3. After these repayments, no debt maturities were outstanding…
• Capital Expenditure GuidanceImportance 42 · Surprise 24
  Devon expects capital expenditures of approximately $1.3 billion to $1.4 billion for the remainder of 2026. The budget includes the Eagle Ford assets through the expected early-2027 closing of their sale. Management…
• Canadian Tax AssessmentsImportance 40 · Surprise 42
  The Canada Revenue Agency proposed material adjustments relating to Devon’s legacy Canadian business and issued formal assessments for certain adjustments. Devon disagrees and intends to contest the assessments, which…
• U.S. Tax Law ChangesImportance 40 · Surprise 42
  The One Big Beautiful Bill Act (OBBB), signed July 4, 2025, permanently reinstated 100% bonus depreciation and allowed expensing of domestic research costs beginning in 2025. It also allows intangible drilling costs to…
• Operating Expense TrendsImportance 30 · Surprise 40
  General and administrative expense increased in Q3 2026 compared with Q2, primarily due to a full quarter of labor and benefits costs associated with the merger. G&A per Boe nevertheless declined 17% sequentially to…
• Macroeconomic Factors ImpactImportance 13 · Surprise 6
  Devon said oil, gas and NGL prices experienced heightened volatility during the first nine months of 2026, driven partly by Middle East conflict and disruptions to global oil supply, alongside uncertainty about global…
• Trade Policy and TariffsImportance 10 · Surprise 6
  Devon said evolving U.S. trade policies and tariff actions may contribute to higher inflation and disrupt supply chains, negatively affecting cash flow. The company said operational efficiencies and long-standing…

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