Devon Energy — Feb 18, 2025 release

The capital requirements to deliver this production are expected to range from $3.8 billion to $4.0 billion, representing a 5 percent, or $200 million, decline from the company’s previous outlook. In the first quarter of 2025, Devon expects oil production to average 380,000 to 386,000 barrels per day. Capital spending in the first quarter is expected to approximate $1.0 billion. Additional details of Devon’s forward-looking guidance are available on the company’s website at www.devonenergy.com . CONFERENCE CALL WEBCAST AND SUPPLEMENTAL EARNINGS MATERIALS Also provided with today’s release is the company’s earnings presentation that is available on the company’s website at www.devonenergy.com . The company’s fourth-quarter conference call will be held at 10:00 a.m. Central (11:00 a.m. Eastern) on Wednesday, Feb. 19, 2025, and will serve primarily as a forum for analyst and investor questions and answers. ABOUT DEVON ENERGY Devon Energy is a leading oil and gas producer in the U.S. with a diversified multi-basin portfolio headlined by a world-class acreage position in the Delaware Basin. Devon’s disciplined cash-return business model is designed to achieve strong returns, generate free cash flow and return capital to shareholders, while focusing on safe and sustainable operations. For more information, please visit www.devonenergy.com .   Investor Contact    Media Contact    investor.relations@dvn.com    Michelle Hindmarch    405-228-4450    405-552-7460    NON-GAAP DISCLOSURES This press re