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Devon Energy Corp (DVN.N)

DVN.N on New York Stock Exchange

43.28USD
22 Jun 2018
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Latest Key Developments (Source: Significant Developments)

Devon Energy Announces Q3 Cash Dividend At $0.08/Share
Wednesday, 6 Jun 2018 

June 6 (Reuters) - Devon Energy Corp ::DEVON ENERGY ANNOUNCES THIRD-QUARTER 2018 CASH DIVIDEND FOR COMMON STOCKHOLDERS.DEVON ENERGY CORP - DECLARED A QUARTERLY CASH DIVIDEND ON DEVON'S COMMON STOCK FOR Q3 OF 2018 AT A RATE OF $0.08 PER SHARE.  Full Article

Devon Energy Monetizes Interests In EnLink Midstream
Wednesday, 6 Jun 2018 

June 6 (Reuters) - Devon Energy Corp ::DEVON ENERGY MONETIZES INTERESTS IN ENLINK MIDSTREAM, INCREASES SHARE-REPURCHASE PROGRAM TO $4 BILLION.ENTERED INTO AN AGREEMENT TO SELL ITS AGGREGATE OWNERSHIP INTERESTS IN ENLINK MIDSTREAM PARTNERS.TO SELL AGGREGATE OWNERSHIP INTERESTS IN ENLINK MIDSTREAM PARTNERS, AND ENLINK MIDSTREAM, FOR $3.125 BILLION.BOARD OF DIRECTORS HAS INCREASED SIZE OF COMPANY'S SHARE-REPURCHASE AUTHORIZATION TO $4 BILLION.ENLINK SALE TO REDUCE DEVON'S CONSOLIDATED DEBT BY 40 PERCENT.ACCRETIVE TRANSACTION VALUES ENLINK OWNERSHIP AT 12 TIMES CASH FLOW.NO INCREMENTAL CORPORATE CASH TAXES RESULTING FROM TRANSACTION.NO INCREMENTAL CORPORATE CASH TAXES RESULTING FROM TRANSACTION.ENLINK PROCEEDS, COMBINED WITH PROCEEDS FROM NON-CORE E&P ASSETS ALREADY SOLD , WILL EXCEED $5 BILLION DIVESTITURE TARGET.DEVON ENERGY - CO WILL EXTEND FIXED-FEE GATHERING AND PROCESSING CONTRACTS WITH RESPECT TO BRIDGEPORT AND CANA PLANTS WITH ENLINK THROUGH 2029.DEVON ENERGY - UPON CLOSE OF DEAL, FINANCIAL RESULTS OF ENLINK MIDSTREAM WILL NO LONGER BE CONSOLIDATED WITH DEVON'S UPSTREAM BUSINESS.  Full Article

Devon Energy Q1 Loss Per Share $0.38
Tuesday, 1 May 2018 

Devon Energy Corp ::DEVON ENERGY REPORTS FIRST-QUARTER 2018 RESULTS.Q1 LOSS PER SHARE $0.38.$1 BILLION SHARE-REPURCHASE PROGRAM UNDERWAY.Q1 ADJUSTED CORE EARNINGS PER SHARE $0.20 EXCLUDING ITEMS.Q1 EARNINGS PER SHARE VIEW $0.20 -- THOMSON REUTERS I/B/E/S.QTRLY TOTAL REVENUES AND OTHER $3,810 MILLION VERSUS $3,547 MILLION REPORTED LAST YEAR.QTRLY OIL, GAS AND NGL SALES $1,360 MILLION VERSUS $1,309 MILLION REPORTED LAST YEAR.RAISING FULL-YEAR 2018 OIL PRODUCTION OUTLOOK.G&A AND INTEREST SAVINGS TO REACH $175 MILLION ANNUALLY.EXITED Q1 WITH $1.4 BILLION OF CASH ON HAND.TARGETING ASSET DIVESTITURE PROCEEDS IN EXCESS OF $5 BILLION.SEES Q2 TOTAL OIL EQUIVALENT PRODUCTION OF 524 MBOE/D - 549 MBOE/D.SEES FY TOTAL OIL EQUIVALENT PRODUCTION OF 536 MBOE/D - 560 MBOE/D.IN A SEPARATE TRANSACTION WITHIN BARNETT, FORMED A PARTNERSHIP WITH DOWDUPONT IN APRIL.SEES FY DEVON CAPITAL EXPENDITURES $2,300 MILLION - $2,550 MILLION; EXCLUDES CAPITAL EXPENDITURES RELATED TO ENLINK.QTRLY TOTAL OIL EQUIVALENT PRODUCTION NET OF ROYALTIES 544 MBOE/D.DEVON ENERGY - WILL MONETIZE HALF ITS WORKING INTEREST ACROSS 116 GROSS UNDRILLED LOCATIONS FOR APPROXIMATE $75 MILLION PAYMENT FROM DOW SPREAD OVER 5 YRS.WILL ALSO DRILL AND OPERATE UP TO 24 WELLS PER YEAR AS PER AGREEMENT WITH DOWDUPONT.BOARD APPROVED A 33 PERCENT INCREASE TO ITS QUARTERLY COMMON STOCK DIVIDEND TO $0.08 PER SHARE.Q1 REVENUE VIEW $3.89 BILLION -- THOMSON REUTERS I/B/E/S.  Full Article

Devon energy reports third-quarter 2017 results
Tuesday, 31 Oct 2017 

Oct 31 (Reuters) - Devon Energy Corp :Devon Energy reports third-quarter 2017 results.Q3 adjusted core earnings per share $0.46 excluding items.Q3 earnings per share view $0.38 -- Thomson Reuters I/B/E/S.Devon Energy Corp qtrly total revenue and other $‍3,156​ million versus $4,233 million.Devon Energy Corp - qtrly total oil equivalent production of ‍527 ​mboe/d versus 577 MBoe/d.Devon Energy Corp qtrly oil, gas and NGL sales $‍1,245​ million versus $1,113 million.Devon Energy Corp - due to positive operating trends, devon expects E&P capital spending to range from $2.0 billion to $2.1 billion in 2017.Devon Energy - not made changes to 2017 planned activity levels; on track to run about 20 development rigs across U.S. resource plays by end of 2017‍​.Devon Energy Corp sees Q4 total oil equivalent production 551 MBoe/d to 571 MBoe/d‍​.Devon Energy Corp qtrly ‍shr $0.43​.Q3 revenue view $3.17 billion -- Thomson Reuters I/B/E/S.  Full Article

Devon Energy announces pricing of maximum tender offers
Thursday, 18 Aug 2016 

Devon Energy Corp : Devon Energy announces pricing of maximum tender offers .Amended tender offers to increase repurchase amount from about $535.4 million to amount necessary to pay consideration for 2.250% notes due 2018.  Full Article

Devon Energy announces early tender results
Thursday, 18 Aug 2016 

Devon Energy : Devon Energy announces early tender results and upsizing of maximum tender offers .Amended maximum tender offers to increase aggregate maximum repurchase t from approximately $535.4 million of 8.250 pct notes due 2018.  Full Article

Devon Energy posts Q2 core shr $0.06; sees FY oil equivalent production of 598-623 MBOE/D
Tuesday, 2 Aug 2016 

Devon Energy Reports Second : Raised 2016 production guidance for retained assets by 3 percent . Q2 loss per share $3.04 . Q2 earnings per share view $-0.19 -- Thomson Reuters I/B/E/S . Q2 total operating revenue $2,488 million versus. $3,393 million last year . Q2 revenue from oil, natural gas and natural gas liquids sales totaled $1,085 million versus. $1,587 million last year . Devon's reported net production averaged 644,000 oil-equivalent barrels (boe) per day during q2 of 2016 . "now on pace to reduce operating and g&a expenses by nearly $1 billion in 2016" . Legacy midland basin assets have extremely low declines and are expected to produce approximately 15,000 BOE per day in H2 2016 . Sees 2016 capital expenditures $1,370 million - $1,645 million . Raising mid-point of its 2016 production guidance from its retained, go-forward asset base by 18,000 boe per day, or 3 percent . Sees FY oil equivalent total production between 598 mboe/d to 623 mboe/d . Qtrly core earnings per share $0.06 . Completed asset divestiture program with proceeds totaling $3.2 billion . Sees q3 oil equivalent total production between 560 mboe/d to 590 mboe/d . Lowering its full-year 2016 loe outlook by $150 million to a range of $1.6 billion to $1.7 billion . On track to reduce LOE and production taxes by nearly $600 million compared to 2015.  Full Article

Wolf Midstream says deal to be funded through investment by CPPIB
Thursday, 14 Jul 2016 

Wolf Midstream Inc: Wolf Midstream Inc signs agreement to acquire 50 pct interest in access pipeline in Alberta for $1.4 billion .Deal will be funded at closing by Wolf through an investment by CPPIB of approximately $825 million and third-party debt financing.  Full Article

Devon to sell Western Canada pipeline stake to CPPIB for $1.1 bln
Thursday, 14 Jul 2016 

Devon Energy Corp : Devon Energy monetizes access pipeline for CAD $1.4 billion (USD $1.1 billion); additional CAD $150 million (USD $120 million) payment with future expansion . Devon Energy Corp says expects its lease operating expense at Jackfish Complex to increase by approximately USD $100 million on an annualized basis . Agreement also includes potential for an incremental CAD $150 million payment . To sell 50 percent ownership interest in access pipeline to Wolf Midstream Inc, Portfolio Co Of Canada Pension Plan Investment Board . Under terms of sale agreement, Devon's thermal-oil acreage is dedicated to access pipeline for an initial term of 25 years . Agreement also includes potential for access pipeline toll to be reduced by as much as 30 percent . A market-based toll will be applied to production from company's three Jackfish projects, which are fully operational .Entered into a definitive agreement to sell its 50 percent ownership interest in access pipeline to Wolf Midstream Inc.  Full Article

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SandRidge approached by 17 suitors, Icahn says not to bid soon

SandRidge Energy Inc said on Friday it had been approached by 17 potential bidders for a buyout, including billionaire Carl Icahn who is fighting for control of the oil and gas producer's board.