Devon Q2 net earnings $1.9B; first combined quarter after Coterra merger; oil production at top-end guidance

DEVON ENERGY CORP/DE

Net earnings $1.9B ($2.03 diluted EPS); core earnings $1.5B ($1.57 diluted EPS).
Oil production 503,000 bbl/d at top-end guidance; total production 1,359,000 Boe/d.
Capital expenditures $1,269M, 2% below midpoint; adjusted free cash flow $1.7B.
Returned $1,063M to shareholders: $0.32/share dividend (33% increase), $197M share repurchases, $500M debt retirement.
Acquired 16,300 net acres in Delaware Basin for $2.6B; on track for $1.0B annual synergies by year-end 2027.

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