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Devon Energy Corp (DVN.N)

DVN.N on New York Stock Exchange

39.33USD
18 Sep 2018
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Latest Key Developments (Source: Significant Developments)

Devon Energy Provides Update On $4 Bln Share-Repurchase Program
Friday, 14 Sep 2018 

Sept 14 (Reuters) - Devon Energy Corp ::DEVON ENERGY PROVIDES UPDATE ON $4 BILLION SHARE-REPURCHASE PROGRAM.DEVON ENERGY CORP - EXPECTS TO REPURCHASE APPROXIMATELY AN INCREMENTAL $500 MILLION BEFORE ITS Q3 EARNINGS CALL.DEVON ENERGY CORP - NOW EXPECTS TO COMPLETE ITS $4 BILLION SHARE-REPURCHASE PROGRAM IN EARLY 2019.DEVON ENERGY CORP - ON TRACK TO REPURCHASE NEARLY 20 PERCENT OF COMPANY'S OUTSTANDING COMMON STOCK.  Full Article

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 says will deal with gas issues before bringing wells online

Sept 5 U.S.-based Devon Energy Corp will not bring oil wells online unless it has the capacity to deal with the gas byproducts, Chief Executive David Hager told a conference on Wednesday.