Welcome to our dedicated page for Devon Energy news (Ticker: DVN), a resource for investors and traders seeking the latest updates and insights on Devon Energy stock.
Devon Energy Corporation reports developments tied to its U.S. oil and gas production business, with a diversified multi-basin portfolio headlined by the Delaware Basin. Recurring updates include quarterly operating and financial results, production outlooks, cash-return and capital-allocation themes, safe and sustainable operations, shareholder votes, governance matters and material agreements.
News also covers capital-structure developments and completed corporate transactions, including the Coterra merger, under which Coterra became a direct wholly owned subsidiary of Devon.
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Devon Energy Corp. (NYSE: DVN) announced its financial and operational results for Q3 2022. The company is recognized as a leading oil and gas producer in the U.S., particularly noted for its strong position in the Delaware Basin. Devon's disciplined cash-return business model aims to deliver robust returns, generate free cash flow, and return capital to shareholders while maintaining safe operations. The Q3 conference call for analysts and investors is scheduled for November 2, 2022, at 10:00 a.m. Central Time.
Devon Energy Corp. (NYSE: DVN) declared a $1.35 fixed-plus-variable dividend per share, marking a 61% year-over-year increase based on Q3 financial performance. The dividend is payable on December 30, 2022 to shareholders on record by the close of business on December 12, 2022. As a leading oil and gas producer in the U.S., Devon aims to generate free cash flow and return capital to shareholders while maintaining a focus on sustainable operations.
Empire Petroleum (NYSE American: EP) has appointed J. Kevin Vann as Vice President of Finance and Strategic Planning. Vann brings over 25 years of experience in the energy sector, previously serving as CFO at WPX Energy, which merged with Devon Energy (NYSE: DVN) in January 2021. His expertise will enhance Empire’s financial planning, capital market initiatives, and strategic oversight. CEO Tommy Pritchard highlighted Vann's strong background in capital allocation and corporate activities, positioning Empire for growth, with a focus on strategic and operational excellence.
Devon Energy Corp. (NYSE: DVN) has finalized its acquisition of Validus Energy for $1.8 billion, bolstering its position in the Eagle Ford basin. The deal adds 42,000 net acres with a 90% working interest, contributing approximately 35,000 Boe per day in production, expected to rise to 40,000 Boe daily within a year. Additionally, the acquisition introduces 350 drilling locations and 150 refrac candidates, enhancing Devon's capacity for high-margin production and free cash flow for the coming years.
Devon Energy Corp. (NYSE: DVN) announced it will report its third-quarter 2022 results on Nov. 1, after U.S. market close. The earnings release and presentation will be accessible on the company's website. A conference call is scheduled for Nov. 2 at 10:00 a.m. CT, focusing on analyst and investor Q&A. Devon Energy, a leading U.S. oil and gas producer, emphasizes a disciplined cash-return model aimed at generating strong returns and free cash flow, while prioritizing safe operations.
Devon Energy Corp. (NYSE: DVN) announced the expected appointment of Barbara Baumann as chair of the board, succeeding Dave Hager, who plans to retire in January 2023. This leadership transition reflects Devon's commitment to strong governance and strategic direction. Hager expressed pride in the company's achievements during his 15-year tenure, while Muncrief highlighted Baumann's extensive experience in the energy sector, governance, and ESG initiatives. Baumann has been on the board since 2014 and currently leads key committees.
Devon Energy Corp. (NYSE: DVN) has announced a definitive purchase agreement to acquire Validus Energy for $1.8 billion, expected to close by Q3 2022. This acquisition will complement Devon's existing Eagle Ford holdings and is projected to enhance financial metrics such as earnings and cash flow. Notably, the deal is valued at 2-times cash flow, generating a free cash flow yield of 30%. The transaction is anticipated to increase Devon's variable dividend by up to 10% and supports a $2 billion share repurchase program.
Devon Energy Corp. (NYSE: DVN) announced a record fixed-plus-variable dividend of $1.55 per share, reflecting a 22% increase from the previous quarter, as part of its second-quarter financial results. The fixed dividend portion increased by 13% or $0.02 per share. This dividend is payable on September 30, 2022, to shareholders of record by the close of business on September 12, 2022. Devon Energy is recognized for its disciplined cash-return strategy, focusing on sustainable operations and strong free cash flow.
Devon Energy Corp. (NYSE: DVN) reported its second-quarter financial results on August 1, 2022. The company is a leading U.S. oil and gas producer, focusing on a disciplined cash-return model. Key aspects of the report are accessible through their Investor Relations website. A conference call for analysts and investors will take place on August 2, 2022, at 10:00 a.m. Central time. Devon aims to enhance shareholder value through strong returns, free cash flow, and sustainable operations in its Delaware Basin portfolio.