---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-039127"
form_type: "8-K"
ticker: "DVN"
cik: "0001090012"
company_name: "DEVON ENERGY CORP/DE"
filed_at: "2023-02-14T23:59:59+00:00"
generated_at: "2026-06-19T13:03:07.423238+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Devon Q4 operating cash flow $1.9B, record free cash flow; raises fixed dividend 11%

## Summary
- Net earnings of $1.2B ($1.83 diluted EPS); core earnings $1.1B ($1.66 diluted EPS).
- Operating cash flow $1.9B in Q4; free cash flow $1.1B. Full-year free cash flow record $6.0B.
- Board approved 11% increase to fixed quarterly dividend; Q4 fixed-plus-variable dividend $0.89/share.
- Oil production record 316,000 bpd; total production 636,000 Boe/d. Proved reserves up 12% to 1.8B Boe.
- 2023 guidance: production 643-663k Boe/d, capex $3.6-3.8B; self-funded at $40 WTI.

## SEC filing metadata
- accession: 0001193125-23-039127
- form_type: 8-K
- ticker: DVN
- cik: 0001090012
- company_name: DEVON ENERGY CORP/DE
- filed_at: 2023-02-14T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1090012/000119312523039127/0001193125-23-039127-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1090012/000119312523039127/d453066d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-039127
- JSON: https://secwatch.observer/filing/0001193125-23-039127.json
- Plain text: https://secwatch.observer/filing/0001193125-23-039127.txt

## Key facts
- Earnings Releases
  DEVON ENERGY CORP/DE reported financial results for the full-year 2022.
  - Period: the full-year 2022
  - Result: reported results
  source text: For the full-year 2022, operating cash flow totaled $8.5 billion, a 74 percent increase versus 2021.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1090012/000119312523039127/0001193125-23-039127-index.htm
- Earnings Releases
  DEVON ENERGY CORP/DE reported the fourth quarter of 2022 results: net income net earnings of $1.2 billion, EPS $1.83 per diluted share.
  - Period: the fourth quarter of 2022
  - Net income: net earnings of $1.2 billion
  - EPS: $1.83 per diluted share
  - Result: reported results
  source text: Devon reported net earnings of $1.2 billion, or $1.83 per diluted share, in the fourth quarter of 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1090012/000119312523039127/0001193125-23-039127-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.