Highest-materiality recent filing
Devon completes $2.94B debt exchange, issues new notes at 3.9%-5.9% across 5 series
Settled exchange of ~$2.94B aggregate principal of existing Coterra notes for new Devon notes plus cash on June 25, 2026.
Devon closes Coterra merger; pro forma shows $24.8B revenue & $3.77B net income
Each Coterra share exchanged for 0.70 Devon shares; total consideration ~$24.947B.
Devon Energy acquires 16,300 Delaware Basin acres for $2.6B
Acquired 16,300 net undeveloped acres in Lea and Eddy Counties, NM, at $161,500 per net acre for total $2.6B.
Devon completes all-stock merger with Coterra; combined company retains DVN ticker
Coterra shareholders received 0.70 DVN shares per CTRA share; DVN holders own ~54%, former Coterra holders ~46%.
Devon shareholders approve Coterra merger proposals; closing expected May 7
Stock issuance proposal approved: 470M for, 4.1M against, 1.2M abstain.
Devon Q1 core EPS $1.04, oil production 387K bbl/d (top-end); Coterra merger approved, close May 7
Net earnings $120M ($0.19/diluted); core earnings $641M ($1.04/diluted).
Devon supplements Coterra merger proxy; two shareholder lawsuits filed
Thomas Goggin and Dennis Kelly suits allege disclosure deficiencies in merger proxy; company denies allegations.
Devon provides pro forma financials for $23.4B Coterra merger; combined reserves of 4.99B Boe
Exchange ratio: 0.70 Devon shares per Coterra share; total consideration ~$23.4B based on $44.00 DVN price.
Devon-Coterra merger clears HSR waiting period; closing targeted Q2 2026
HSR Act waiting period expired at 11:59 p.m. ET on April 1, 2026, satisfying a key condition.
Devon Energy reports Q4 earnings beat and announces all-stock merger with Coterra Energy
Merger with Coterra Energy in all-stock deal; Devon shareholders to own ~54%, Coterra ~46%.
Devon Energy to acquire Coterra Energy in all-stock merger with 0.70 exchange ratio
All-stock merger: 0.70 DVN shares per Coterra share; Devon holders get ~54% of combined co.
Devon Q3 net earnings $687M ($1.09/diluted), oil meets top-end guidance; 2026 outlook stronger
Net earnings $687M ($1.09/diluted); core earnings $656M ($1.04); oil/gas/NGL revenue $2.8B.
Devon Energy Q2 net earnings $899M ($1.41 EPS); production beats top-end guidance
Production of 841,000 Boe/d (387,000 bbl/d oil) exceeded guidance; capital $932M, 7% below midpoint.
Devon Energy Q1: net earnings $494M, core earnings $779M; oil production beats guidance
Net earnings $494M ($0.77 diluted EPS); core earnings $779M ($1.21/sh).
Devon Q4 net earnings $639M ($0.98/sh); record oil production 398K bpd; dividend raised 9% to $0.24
Q4 core earnings $756M ($1.16/sh); operating cash flow $1.7B; free cash flow $738M.
Devon Energy CEO Richard Muncrief to retire March 1, 2025; COO Clay Gaspar named successor
CEO Richard Muncrief retiring effective March 1, 2025; will serve as advisor until Q2 2025.
Devon Q3 net earnings $812M ($1.30/sh); oil prod beat; no variable dividend; Grayson Mill closed
Net earnings of $812M ($1.30 diluted EPS); core earnings $683M ($1.10/sh).
Devon closes $2.25B senior notes offering; special redemption if Grayson Mill deal fails
Issued $1.25B 5.200% notes due 2034 and $1B 5.750% notes due 2054 in registered public offering.
Devon Energy issues $2.25B in senior notes at 5.200% and 5.750%
Issues $1.25B of 5.200% Senior Notes due 2034 and $1B of 5.750% Senior Notes due 2054.
Entered into credit agreement on Aug 12, 2024, providing up to $2 billion in delayed draw term loans.
Devon Energy Q2 net earnings $844M; record oil output; upsized buyback to $5B
Net earnings $844M ($1.34 diluted EPS); core earnings $885M ($1.41 diluted EPS).
Devon Energy to acquire Grayson Mill for $3.25B cash plus 37.2M shares
Cash consideration of $3.25B and 37,210,292 shares of Devon common stock.
Devon Energy beats Q1 production guidance, raises 2024 outlook; net earnings $596M
Q1 production 664K Boe/day (4% above guidance); Delaware Basin up 5% YoY.
Devon Q4 net earnings $1.2B; raises fixed dividend 10%; FY23 free cash flow $2.7B
Q4 net earnings $1.152B (diluted EPS $1.81); core earnings $902M ($1.41).
Devon Q3 free cash flow doubles to $843M; dividend rises 57% to $0.77/share
Net earnings $910M ($1.42 diluted GAAP EPS); core earnings $1.1B ($1.65 diluted), up 40% QoQ.
Devon Energy Q2 2023 net earnings $690M ($1.07 diluted); record oil production 323K bpd
Net earnings $690M ($1.07 diluted); core earnings $755M ($1.18 diluted).
Devon Q1 net earnings $995M, EPS $1.53; oil production record 320K bpd; buyback raised to $3B
Net earnings of $995M ($1.53 diluted EPS); core earnings of $952M ($1.46 EPS).
Devon Q4 operating cash flow $1.9B, record free cash flow; raises fixed dividend 11%
Net earnings of $1.2B ($1.83 diluted EPS); core earnings $1.1B ($1.66 diluted EPS).
Devon Energy Q3 net earnings $1.9B; dividend up 61% to $1.35/share; production beats guidance
Net earnings $1.9B ($2.88 diluted); core earnings $1.4B ($2.18); operating cash flow $2.1B (+32% YoY).
David A. Hager to retire as Executive Chair of Devon Energy; Barbara M. Baumann to succeed
David A. Hager notified retirement from Board and as Executive Chair, effective Jan 7, 2023.
Devon Energy Q2 2022: Record free cash flow of $2.1B; dividend raised 22% to $1.55/share
Net earnings $1.9B ($2.93 diluted EPS); core earnings $1.7B ($2.59 diluted EPS).
Devon Q1 net earnings $1.0B ($1.48/sh); record free cash flow $1.3B; dividend raised 27% to $1.27/sh
Net earnings $1.0B, $1.48 diluted EPS; core earnings $1.88/sh. Operating cash flow $1.8B, up 14% QoQ.
Devon Energy Q4 net earnings $1.5B, core EPS $1.39; free cash flow $1.1B, dividend $1.00/share
Net earnings of $1.5B ($2.23/diluted); core earnings of $935M ($1.39/diluted).
Net earnings of $838M ($1.24 diluted EPS); core earnings $733M; operating cash flow $1.6B, up 46% QoQ.
Effective upon and in connection with the consummation of the Merger, each of the following directors of the Devon Board tendered their resignations to the Company: John E. Bethancourt, Barbara M. Baumann, Gennifer F. Kelly, Michael N. Mears and Robert A. Mosbacher, Jr.
Jeffrey L. Ritenour will continue with the Company as Executive Vice President and Chief Corporate Development Officer
Effective upon and in connection with the consummation of the Merger, each of the following directors of the Devon Board tendered their resignations to the Company: John E. Bethancourt, Barbara M. Baumann, Gennifer F. Kelly, Michael N. Mears and Robert A. Mosbacher, Jr.
Effective upon and in connection with the consummation of the Merger, each of the following directors of the Devon Board tendered their resignations to the Company: John E. Bethancourt, Barbara M. Baumann, Gennifer F. Kelly, Michael N. Mears and Robert A. Mosbacher, Jr.
Thomas E. Jorden, Amanda M. Brock, Jacinto J. Hernandez, Jeffrey E. Shellebarger and Marcus A. Watts (each, a "Legacy Coterra Director"
Thomas E. Jorden, Amanda M. Brock, Jacinto J. Hernandez, Jeffrey E. Shellebarger and Marcus A. Watts (each, a "Legacy Coterra Director"
Effective upon and in connection with the consummation of the Merger, each of the following directors of the Devon Board tendered their resignations to the Company: John E. Bethancourt, Barbara M. Baumann, Gennifer F. Kelly, Michael N. Mears and Robert A. Mosbacher, Jr.
Effective upon the consummation of the Merger, Mr. Jorden was appointed as non-executive Chair of the Devon Board
Effective upon the consummation of the Merger, Mr. Jorden was appointed as non-executive Chair of the Devon Board and Mr. Smolik was appointed as the Lead Independent Director of the Devon Board.
Effective upon and in connection with the consummation of the Merger, each of the following directors of the Devon Board tendered their resignations to the Company: John E. Bethancourt, Barbara M. Baumann, Gennifer F. Kelly, Michael N. Mears and Robert A. Mosbacher, Jr.
John Sherrer will continue with the Company as Vice President, Accounting and Controller.
Thomas E. Jorden, Amanda M. Brock, Jacinto J. Hernandez, Jeffrey E. Shellebarger and Marcus A. Watts (each, a "Legacy Coterra Director"
Max materiality 1.00 · Median 0.75 · Most common event earnings