Devon Energy Corp. announced today that the company's board of directors expects to appoint Barbara Baumann as chair of the board, succeeding Dave Hager, who has notified the board of his plans to retire from the board in January 2023. This transition aligns with Devon's continuing focus on strong corporate values, governance principles, and strategic vision. "It has been a great joy and a privilege to spend the past 15 [...]
Devon Energy announced it has entered into a definitive purchase agreement to acquire Validus Energy, an Eagle Ford operator, for total cash consideration of $1.8 billion. The transaction is subject to customary terms and conditions and is expected to close at the end of the third quarter of 2022, with an effective date of June 1, 2022. Rick Muncrief, president and CEO stated, “The Validus acquisition captures a top-tier [...]
Devon Energy announced today its board of directors declared a fixed-plus-variable dividend of $1.55 per share based on the company’s second-quarter financial performance. This record payout represents a 22 percent increase from the previous quarter. As part of the second-quarter dividend announcement, the board approved an increase in the fixed dividend of 13 percent or $0.02 per share. The company’s fixed-plus-variable [...]
Devon Energy Corp. reported financial and operational results for the second quarter of 2022. The company’s earnings release, supplemental financial tables, updated guidance and related earnings presentation can be accessed via the Investor Relations section of Devon’s website. The company’s second-quarter conference call will be held at 10:00 a.m. Central on Tuesday, August 2, 2022, and will serve primarily as a forum [...]
Devon Energy announced that it has completed its previously announced acquisition of the leasehold interest and related assets of RimRock Oil and Gas, LP in the Williston Basin for a total cash consideration of $865 million, less purchase price adjustments. This acquisition adds a contiguous position of 38,000 net acres (88% working interest) directly offsetting and overlapping Devon’s existing position. Production from [...]
Devon Energy announced it will report second-quarter 2022 results on Monday, Aug. 1, after the close of U.S. financial markets. The earnings release and presentation for the second-quarter 2022 results will be available on the company’s website. On Tuesday, Aug. 2, the company will hold a conference call at 10:00 a.m. Central Time, which will consist primarily of answers to questions from analysts and investors. A webcast [...]
GREENWOOD VILLAGE, Colo., June 8, 2022 /PRNewswire/ -- RimRock Oil & Gas, LP , today announced the sale of its leasehold interest and related assets in the Williston Basin to Devon Energy Corp. , for a total cash consideration of $865 million. RimRock is a portfolio company of funds managed by Warburg Pincus LLC, a leading global growth investor. RimRock is an independent oil and gas company focused on the acquisition and [...]
WhiteWater, EnLink Midstream, LLC , Devon Energy Corp. , and MPLX LP have reached a final investment decision to move forward with the construction of the Matterhorn Express Pipeline after having secured sufficient firm transportation agreements with shippers. The Matterhorn Express Pipeline has been designed to transport up to 2.5 billion cubic feet per day of natural gas through approximately 490 miles of 42-inch [...]
Devon Energy Corp. today reported financial and operational results for the first quarter of 2022. The company's earnings release, supplemental financial tables, updated guidance and related earnings presentation can be accessed via the Investor Relations section of Devon's website, www.devonenergy.com. The company's first-quarter conference call will be held at 10:00 a.m. Central on Tuesday, May 3, 2022, and will serve [...]
KEY MESSAGES First-quarter dividend payout increases 27 percent to a record high of $1.27 per share Board expanded share-repurchase authorization by 25 percent to $2.0 billion Share-repurchase program to date has retired 19.1 million shares at a total cost of $891 million OKLAHOMA CITY, May 02, 2022 -- Devon Energy Corp. announced today its board of directors declared a fixed-plus-variable dividend of $1.27 per share [...]
Devon Energy Corp. today announced it will report first-quarter 2022 results on Monday, May 2, after the close of U.S. financial markets. The earnings release and presentation for the first-quarter 2022 results will be available on the company's website at www.devonenergy.com. On Tuesday, May 3, the company will hold a conference call at 10:00 a.m. Central Time , which will consist primarily of answers to questions from [...]
Devon Energy announced today a pledge of up to $20 million to support humanitarian efforts in Ukraine and neighboring countries supporting Ukrainian refugees. These donations will be split among several organizations providing emergency medical care, food supplies, financial support, and housing for displaced civilians and refugees in the region. Homes, roads, airports, and schools in Ukraine lie in ruins, with dozens of [...]
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