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Guidance history, every release

Devon Energy (DVN) · 8 releases, Nov 5, 2024 to Aug 4, 2026 · rows are metrics, columns are releases

Raised · a change from the previous releaseSame · restated unchanged— · not stated in that releaseEvery value links to its sentence in the filing

Metric	Nov 5, 2024 FY24 Q3	Feb 18, 2025 FY24 Q4	May 6, 2025 FY25 Q1	Aug 5, 2025 FY25 Q2	Nov 5, 2025 FY25 Q3	Feb 17, 2026 FY25 Q4	May 5, 2026 FY26 Q1	Aug 4, 2026 FY26 Q2
For FY2029
Remaining share repurchase authorization capacity	—	—	—	—	—	—	—	New“$7.8 billion”
For FY2027
Annual pre-tax synergies on a run-rate basis	—	—	—	—	—	—	—	New“at least $1.0 billion”
Coterra merger sustainable annual pre-tax synergies	—	—	—	—	—	—	New“$1.0 billion”	—
Pre-tax synergies	—	—	—	—	—	—	New“$1.0 billion in sustainable annual pre-tax synergies”	—
Synergies	—	—	—	—	—	—	—	New“approximately $600 million”
Synergies expected to be captured	—	—	—	—	—	—	—	New“approximately $600 million”
For FY2026
Annual pre-tax free cash flow target	—	—	—	New“$1 billion in annual pre-tax free cash flow”	—	—	—	—
Business optimization target	—	—	—	—	—	New“$1 billion”	—	—
Capital requirements	—	—	—	—	New“$3.5 billion to $3.7 billion”	—	—	—
Capital spending	—	—	—	—	—	—	—	New“between $1,400 million and $1,500 million”
Capital spending	—	—	—	—	—	—	—	New“between $1,400 million and $1,500 million”
Capital spending	—	—	—	—	—	—	New“approximately $900 million”	—
Capital spending	—	—	—	—	—	—	New“approximately $900 million”	—
Capital spending	—	—	—	—	—	New“approximately $900 million”	—	—
Capital spending	—	—	—	—	—	New“approximately $900 million”	—	—
Dividend	—	—	—	—	—	New“$0.24 per share”	—	—
Expected quarterly dividend	—	—	—	—	—	—	New“$0.315 per share”	—
Fixed quarterly cash dividend	—	—	—	—	—	—	—	New“$0.32 per share”
Oil production	—	—	—	—	—	—	—	New“between 550,000 and 560,000 barrels per day”
Oil production	—	—	—	—	New“about 388,000 barrels of oil per day”	—	—	—
Production	—	—	—	—	—	New“823,000 to 843,000 Boe per day”	—	—
Production (adjusted for weather)	—	—	—	—	—	New“823,000 to 843,000 Boe per day”	—	—
Production (Devon standalone basis)	—	—	—	—	—	—	New“851,000 to 868,000 Boe per day (46 percent oil)”	—
Production impact from winter weather	—	—	—	—	—	New“reduced by 1 percent or 10,000 Boe per day (50 percent oil)”	—	—
Quarterly cash dividend	—	—	—	—	—	—	—	New“$0.32 per share”
Quarterly dividend	—	—	—	—	—	—	New“$0.315 per share”	—
Total production	—	—	—	—	—	—	—	New“between 1,660,000 and 1,690,000 Boe per day”
Total production	—	—	—	—	New“approximately 835,000 to 855,000 Boe per day”	—	—	—
For FY2025
Current tax expense outlook (% of pre-tax earnings)	—	—	—	New“10 percent”	—	—	—	—
Capital	—	—	—	—	New“$890 million to $950 million”	—	—	—
Capital	—	—	—	New“$3.6 billion to $3.8 billion”	—	—	—	—
Capital	—	—	New“$3.7 billion to $3.9 billion”	—	—	—	—	—
Capital allocation to Delaware Basin	—	New“more than 50 percent”	—	—	—	—	—	—
Capital program	—	New“$3.8 to $4.0 billion”	—	—	—	—	—	—
Capital requirements	—	New“$3.8 billion to $4.0 billion”	—	—	—	—	—	—
Capital spending	—	—	—	New“approximately $900 million”	—	—	—	—
Capital spending	—	—	New“approximately $1.0 billion”	—	—	—	—	—
Capital spending	—	New“approximate $1.0 billion”	—	—	—	—	—	—
Capital spending	—	New“approximate $1.0 billion”	—	—	—	—	—	—
Fixed quarterly cash dividend	—	—	New“$0.24 per share”	—	—	—	—	—
Gross operated wells brought online	—	—	—	—	New“around 90”	—	—	—
Oil production	—	—	—	—	New“383,000 to 388,000 barrels per day”	—	—	—
Oil production	—	—	—	—	New“383,000 to 388,000 barrels per day”	—	—	—
Oil production	—	—	—	New“384,000 to 390,000 barrels per day”	—	—	—	—
Oil production	—	—	New“381,000 to 387,000 barrels per day”	—	—	—	—	—
Oil production	—	New“380,000 to 386,000 barrels of oil per day”	—	—	—	—	—	—
Oil production	—	New“380,000 to 386,000 barrels per day”	—	—	—	—	—	—
Oil production forecast	—	—	New“382,000 to 388,000 barrels per day”	Raised“384,000 to 390,000 barrels per day”	—	—	—	—
Oil volumes	—	New“380,000 to 386,000 barrels of oil per day”	—	—	—	—	—	—
Production	—	—	—	—	New“828,000 to 844,000 Boe per day”	—	—	—
Production	—	—	—	—	New“828,000 to 844,000 Boe per day”	—	—	—
Production	—	New“805,000 to 825,000 Boe per day”	—	—	—	—	—	—
Quarterly fixed dividend	—	—	—	New“$0.24 per share”	—	—	—	—
Quarterly fixed dividend rate	—	New“$0.24 per share”	—	—	—	—	—	—
Total production outlook	—	—	—	New“825,000 to 842,000 Boe per day”	—	—	—	—
Total production outlook	—	—	New“810,000 to 828,000 Boe per day”	—	—	—	—	—
For FY2024
Capital outlook (midpoint)	New“$950 million”	—	—	—	—	—	—	—
Incremental production from the Williston Basin acquisition	New“estimated 110,000 Boe per day”	—	—	—	—	—	—	—
Production forecast	New“811,000 to 830,000 Boe per day”	—	—	—	—	—	—	—
No period stated
Business optimization plan annual pre-tax free cash flow improvement target	—	—	—	—	—	—	New“$1 billion”	—
Gross operated wells	—	—	—	—	New“around 90”	—	—	—
New share repurchase authorization	—	—	—	—	—	New“in excess of $5 billion”	—	—
New share repurchase authorization (expected following merger closing)	—	—	—	—	—	—	New“in excess of $5 billion”	—
Pre-tax synergies	—	—	—	—	—	New“$1.0 billion”	—	—
Pre-tax synergies from merger	—	—	—	—	—	New“$1.0 billion in sustainable annual pre-tax synergies”	—	—
Quarterly dividend rate	—	—	—	—	—	New“$0.315 per share”	—	—
Quarterly fixed dividend	—	—	New“$0.24 per share”	—	Reiterated“$0.24 per share”	—	—	—
Quarterly fixed dividend payout	New“$0.22 per share”	—	—	—	—	—	—	—
Quarterly fixed dividend rate	—	—	—	—	—	—	—	New“$0.32 per share”
Share repurchase authorization	—	—	—	—	—	New“in excess of $5 billion”	Reiterated“in excess of $5 billion”	—
Share repurchase program	—	—	—	New“$5.0 billion”	—	—	—	Raised“$8.0 billion”

Values in quotation marks are the company’s words. Change labels compare each statement with the same metric and target year in the previous release. HighGravityData does not judge whether guidance was met.