Welcome to our dedicated page for Devon Energy Corporation news (Ticker: DVN), a resource for investors and traders seeking the latest updates and insights on Devon Energy Corporation stock.
Devon Energy Corporation (NYSE: DVN) is a top-tier independent oil and natural gas exploration and production company. Headquartered in Oklahoma City, Devon boasts premier positions in North America's most prolific plays, including the Permian Basin, Eagle Ford, and Canada's oil sands. With a reported net production averaging approximately 658,000 barrels of oil equivalent per day in 2023, Devon’s operations significantly contribute to North America's energy supply. The company’s portfolio reported net proved reserves of 1.8 billion barrels of oil equivalent at the end of 2023, with a production mix of 73% oil and natural gas liquids and 27% natural gas.
Devon’s business model emphasizes entrepreneurialism, innovation, leadership, and collaboration, which drive its mission to meet North America's growing energy demands. The company is a staple in the US energy sector, listed on the Fortune 500 and recognized as one of the Fortune 100 Best Companies to Work For. It is also a respected employer in Canada, featured on the Best Workplaces in Canada list by the Globe and Mail.
Recent achievements include a strategic partnership with WaterBridge NDB to form NDB Midstream LLC, creating the largest private water infrastructure system in the Delaware Basin. This partnership enhances Devon's water management capabilities, supporting its drilling plans and water reuse operations. Devon also maintains a robust financial position, ensuring sustainable operations and capital returns to shareholders.
Devon's core business lies in oil and gas production, with significant acreage in the Permian Basin, Anadarko, Eagle Ford, and Bakken basins. The company focuses on maximizing asset development through a disciplined cash-return business model, aiming to generate free cash flow and strong returns for investors. Recent developments also highlight Devon's commitment to sustainable practices and innovation in the energy sector.
For career opportunities and more information, visit Devon Energy Careers.
Devon Energy Corp. (NYSE: DVN) announced the immediate resignation of D. Martin Phillips from its board of directors, following a reduction in EnCap Investments' holdings in the company. This resignation aligns with a shareholder agreement that allowed EnCap to designate a director while holding at least 10% of Devon's stock. Phillips expressed pride in his contributions and confidence in the company's strategic plan. After his departure, Devon will have 11 directors with diverse experience in various industries.
Devon Energy Corp (NYSE: DVN) has declared a $0.19 per share variable cash dividend, totaling $128 million, based on fourth-quarter 2020 results. This variable dividend complements the already established fixed quarterly dividend of $0.11 per share. Both dividends are payable on March 31, 2021 to shareholders on record by March 15, 2021. Devon's innovative 'fixed plus variable' dividend framework aims to consistently reward shareholders by distributing up to 50% of excess free cash flow quarterly.
Devon Energy Corp. (NYSE: DVN) announced its fourth-quarter and full-year 2020 financial results. The company boasts a robust cash-return model that emphasizes strong returns and free cash flow generation. Investors can access detailed financial data and the upcoming conference call scheduled for February 17, 2021, at 9:00 a.m. Central. Devon is recognized as a leading U.S. oil and gas producer with a significant position in the Delaware Basin, maintaining a focus on safe operations and shareholder returns.
Devon Energy Corp. (NYSE: DVN) will host its fourth-quarter and full-year 2020 earnings conference call on Feb. 17 at 9 a.m. CT, moving the date earlier than previously announced. The call will focus on questions from analysts and investors. Prior to the call, the company will release its earnings results on Feb. 16 after market close. Devon emphasizes its disciplined cash-return business model designed for strong returns and sustainable operations. Further details and a replay of the call will be available on the company's website.
Devon Energy Corp. (NYSE: DVN) will report its fourth-quarter and full-year 2020 results on February 16, 2021, after U.S. markets close. The earnings release and presentation will be accessible on the company's website. A conference call for analysts and investors is scheduled for February 17 at 10:00 a.m. CT, featuring a Q&A session. Devon Energy emphasizes its role as a leading U.S. oil and gas producer with a strong focus on generating free cash flow and returning capital to shareholders, backed by a robust multi-basin portfolio.
Devon Energy and WPX Energy have completed an all-stock merger, forming a prominent U.S. energy producer focused on the Delaware Basin. Devon Energy, based in Oklahoma City, aims to enhance cash flow generation and shareholder returns through this merger. WPX shareholders received 0.5165 shares of Devon common stock for each share owned, and WPX will no longer trade on the NYSE. The new board comprises 12 members, with David Hager as executive chairman. This merger is expected to strengthen Devon's market position and operational efficiency.
Devon Energy and WPX Energy have successfully completed their all-stock merger, creating a leading energy producer focused on the Delaware Basin. The merger enhances operational scale and accelerates Devon's cash-return model, emphasizing free cash flow and shareholder returns. WPX shareholders received 0.5165 shares of Devon common stock for each WPX share. The new board comprises 12 members, led by David A. Hager. Devon aims to leverage its superior asset base and operational capabilities for long-term financial success.
Devon Energy and WPX Energy announced shareholder approval for their all-stock merger, set to close on January 7, 2021. Over 70% of Devon's and 87% of WPX's shares were represented, with 99% of votes favoring the merger. This merger aims to enhance free cash flow growth and deliver shareholder returns, establishing a strong presence in the U.S. oil market. WPX shareholders will receive 0.5165 shares of Devon stock for each WPX share. The companies are focused on creating synergies and maximizing business opportunities post-merger.
Devon Energy Corp. (NYSE: DVN) has declared a quarterly cash dividend of $0.11 per share for the first quarter of 2021. This dividend will be payable on March 31, 2021, to shareholders on record as of March 15, 2021. The company focuses on oil and natural gas production, operating in key regions across the U.S. Devon aims for robust returns and capital-efficient cash flow growth.
Devon Energy Corp. (NYSE: DVN) will present at the BofA Securities Global Energy Conference on November 11, 2020, at 4:00 p.m. ET. The presentation will be available via webcast and will include forward-looking information. Attendees can access the webcast on Devon's official website. Devon Energy, based in Oklahoma City, is a leading independent energy company focused on oil and natural gas production, operating in key U.S. energy plays, and is a member of the S&P 500.
FAQ
What is the current stock price of Devon Energy Corporation (DVN)?
What is the market cap of Devon Energy Corporation (DVN)?
What is Devon Energy Corporation?
Where is Devon Energy Corporation headquartered?
What are Devon Energy’s main production areas?
What is Devon Energy’s production mix?
What recent strategic partnerships has Devon Energy entered?
How does Devon Energy return capital to shareholders?
Is Devon Energy included in any major indices?
What recognition has Devon Energy received as an employer?
Where can one find job openings at Devon Energy?
What is Devon Energy's ticker symbol on the NYSE?
