Devon Energy Corp Stock Price, News & Analysis

Devon Energy Corp. (NYSE: DVN) will report its second-quarter 2021 results on August 3 after market close. An earnings release and presentation will be available on the company's website. Following this, a conference call for analysts and investors is scheduled for August 4 at 10:00 a.m. Central Time. Devon Energy is recognized as a leading U.S. oil and gas producer with a strong emphasis on free cash flow generation and capital return to shareholders, particularly focusing on safe and sustainable operations.

Devon Energy Corp (DVN) announced aggressive new environmental targets to enhance its sustainability efforts, aiming for net zero greenhouse gas emissions by 2050. Key goals include a 50% reduction in GHG emissions intensity by 2030 and 65% reduction in methane emissions intensity by 2030 from a 2019 baseline. Additionally, the company plans to achieve a flaring intensity of 0.5% or lower by 2025 and eliminate routine flaring by 2030. Devon emphasizes its commitment to water conservation, targeting over 90% use of non-freshwater in completions activities.

On May 24, 2021, Devon Energy announced the successful early tender of $1,958,718,000 of WPX Notes, representing approximately 97.23% of the outstanding amount. The early tender deadline has been extended to June 7, 2021. Amendments to WPX Notes will include revisions to restrictive covenants and will be effective upon execution. Eligible noteholders will exchange WPX Notes for Devon Notes along with $1.00 cash for every $1,000 of WPX Notes tendered. The complete terms are outlined in the Offer to Exchange dated May 10, 2021.

Devon Energy (NYSE: DVN) has initiated private exchange offers and related consent solicitations for WPX Energy's outstanding notes, totaling approximately $2 billion. Eligible noteholders can exchange WPX Notes for new Devon Notes, with terms varying based on early tender deadlines. The exchange offers aim to amend restrictive covenants of the WPX Notes and are set to expire on June 7, 2021. Devon aims to provide cash consideration of $1.00 per $1,000 of validly tendered WPX Notes, with interest on Devon Notes accruing from the last payment date on the corresponding WPX Notes.

Devon Energy Corp. (NYSE: DVN) announced its 2021 Annual Meeting of Stockholders will now be held virtually due to ongoing COVID-19 concerns. The meeting is scheduled for June 9, 2021, at 8:00 a.m. Central Time, with no change to the time or date. Stockholders can participate via webcast at www.virtualshareholdermeeting.com/DVN2021. Eligible participants include those holding shares as of April 12, 2021, and those with a legal proxy. For details, refer to the Notice of Change of Location filed with the SEC on May 7, 2021.

Devon Energy Corp. (NYSE: DVN) shared its financial and operational results for Q1 2021. The company is recognized as a leading oil and gas producer in the U.S., notably within the Delaware Basin. Devon emphasizes its cash-return business model, focusing on strong returns and generating free cash flow. An investor conference call is scheduled for May 5, 2021, to address analyst and investor inquiries. For comprehensive financial details, access the Investor Relations section on Devon's website.

Devon Energy Corp. (NYSE: DVN) has announced a fixed-plus-variable dividend of $0.34 per share, reflecting a 13% increase from the previous quarter. This dividend consists of a fixed amount of $0.11 and a variable component of $0.23, both payable on June 30, 2021, to shareholders of record on June 14, 2021. The company aims to provide sustainable returns to shareholders while maintaining flexibility across varying market conditions.

Devon Energy Corp. (NYSE: DVN) announced its participation in the Citi Global Energy & Utilities Virtual Conference on May 12, 2021, at 9:30 a.m. ET. The event will be accessible to the public via a webcast that can be found on Devon's website. Devon Energy is recognized as a leading oil and gas producer in the U.S., with a strong foothold in the Delaware Basin. The company's business model prioritizes generating robust returns, free cash flow, and shareholder capital returns while emphasizing safe and sustainable operations.