---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-138262"
form_type: "8-K"
ticker: "DVN"
cik: "0001090012"
company_name: "DEVON ENERGY CORP/DE"
filed_at: "2023-05-08T23:59:59+00:00"
generated_at: "2026-06-15T12:11:03.579210+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Devon Q1 net earnings $995M, EPS $1.53; oil production record 320K bpd; buyback raised to $3B

## Summary
- Net earnings of $995M ($1.53 diluted EPS); core earnings of $952M ($1.46 EPS).
- Oil production hit record 320K bpd; total production 641K Boe/day.
- Operating cash flow $1.7B, free cash flow $665M; declared fixed+variable dividend $0.72/share.
- Board increased share-repurchase authorization by 50% to $3.0B; $692M in buybacks YTD.
- Full-year production guidance unchanged 643-663K Boe/day; capex $3.6-3.8B.

## SEC filing metadata
- accession: 0001193125-23-138262
- form_type: 8-K
- ticker: DVN
- cik: 0001090012
- company_name: DEVON ENERGY CORP/DE
- filed_at: 2023-05-08T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1090012/000119312523138262/0001193125-23-138262-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1090012/000119312523138262/d263170d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-138262
- JSON: https://secwatch.observer/filing/0001193125-23-138262.json
- Plain text: https://secwatch.observer/filing/0001193125-23-138262.txt

## Key facts
- Earnings Releases
  DEVON ENERGY CORP/DE reported the first quarter of 2023 results: net income net earnings of $995 million, or $1.53 per diluted share, EPS $1.53 per diluted share.
  - Period: the first quarter of 2023
  - Net income: net earnings of $995 million, or $1.53 per diluted share
  - EPS: $1.53 per diluted share
  - Result: reported results
  source text: Devon reported net earnings of $995 million, or $1.53 per diluted share, in the first quarter of 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1090012/000119312523138262/0001193125-23-138262-index.htm

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