Devon Energy Corp. today announced a change in the time and format for its 2020 Annual Meeting of Stockholders. Because of continued concerns about the COVID-19 pandemic, the Annual Meeting will be held solely by remote communication, in a “virtual-only” format. The previously announced date of June 3, 2020, has not changed, but the meeting will now take place at 1 p.m. Central Time rather than 8 a.m. CT. As a safety [...]
Devon Energy Corp. today reported financial and operational results for the first quarter 2020. The company’s earnings release, supplemental financial tables and related earnings presentation can be accessed via the Investor Relations section of Devon’s website, www.devonenergy.com. These materials will also be available on the Securities and Exchange Commission's website. The company’s first-quarter conference call will [...]
Devon Energy Corp. will host its first-quarter 2020 earnings conference call one hour earlier than previously announced. The conference call will be held at 9 a.m. Central Time on Wednesday, May 6. The call will consist primarily of answers to questions from analysts and investors. A webcast link to the conference call will be provided on Devon’s website at www.devonenergy.com. A replay will be available on the website [...]
Devon Energy Corp. today announced plans to report its first-quarter 2020 results on Tuesday, May 5, after the close of U.S. financial markets. The earnings release and operations report for the first-quarter 2020 results will be available on the company’s website at www.devonenergy.com. On Wednesday, May 6, the company will hold a conference call at 10 a.m. Central Time , which will consist primarily of answers to [...]
Devon Energy Corp. and Banpu Kalnin Ventures today announced an amendment to the existing terms of their Barnett Shale purchase and sale agreement. Under the amended terms, Devon has agreed to sell its Barnett Shale assets to BKV for up to $830 million of total proceeds, consisting of $570 million in cash at closing and contingent payments of up to $260 million. With the amended terms, Devon will receive an increased [...]
Devon Energy Corp. today provided updates to its 2020 capital expenditure outlook and hedge position. Based on current market conditions, Devon has elected to further reduce its capital expenditures by an additional $300 million for the full-year 2020. The revised capital outlook of approximately $1 billion represents a reduction of nearly 45 percent compared to the company’s original 2020 capital budget. The $300 million [...]
Devon Energy Corp. today provided an update regarding its oil and natural gas hedge position. The company has approximately 80 percent of its estimated oil production in 2020 protected at an average floor price of nearly $45 WTI. Additionally, Devon has secured hedges on approximately 40 percent of its estimated natural gas production in 2020 at an average Henry Hub protected floor price of $2.35 per million cubic feet [...]
In response to the challenging commodity price environment, Devon Energy has announced an immediate decrease in capital spending of $500 million for the full-year 2020. The revised capital budget of approximately $1.3 billion represents a decline of nearly 30 percent compared to its previously announced 2020 capital plan. The $500 million of capital reductions will be diversified across Devon’s portfolio, with the [...]
Devon Energy Corp. today reported operational and financial results for the fourth quarter and full year of 2019. The company’s earnings release, supplemental financial tables and related operations report can be accessed via the Investor Relations section of Devon’s website, www.devonenergy.com. These materials will also be available on the Securities and Exchange Commission's website. The company’s [...]
Devon Energy Corp. announced today that its board of directors has approved a 22 percent increase in its quarterly common stock dividend. The new quarterly dividend rate will be $0.11 per share, compared to the prior quarterly dividend of $0.09 per share. The increased dividend is payable on June 30, 2020, to shareholders of record as of the close of business on June 15, 2020. “The 22 percent increase in our [...]
Devon Energy Corp. today announced plans to report its fourth-quarter and full-year 2019 results on Tuesday, Feb. 18, after the close of U.S. financial markets. The earnings release and operations report for the fourth-quarter and full-year 2019 results will be available on the company’s website at www.devonenergy.com. On Wednesday, Feb. 19, the company will hold a conference call at 10 a.m. Central Time , which [...]
Devon Energy Corp. today announced it has entered into a definitive agreement to sell its assets in the Barnett Shale to Banpu Kalnin Ventures for $770 million. This transaction is subject to customary terms and conditions and is expected to close in the second quarter of 2020. Devon expects no incremental cash taxes associated with the divestiture of these assets. “Devon’s transformation to a U.S. oil growth [...]
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