Devon Energy Corporation reported fourth quarter (Q4) oil production of 390,000 barrels per day, exceeding the top-end of its guidance. Capital investment for the quarter was USD 883 million, 4% below mid-point guidance. The company achieved an 8% improvement in operating costs year-to-date. Devon announced a transformational merger with Coterra Energy, creating a premier large-cap shale operator and expanding its Delaware Basin position with more than 10 years of high-quality inventory. The company expects to achieve USD 1 billion of pre-tax annual synergies by year-end 2027 and has already achieved 85% of its USD 1 billion business optimization target ahead of schedule. Full-year 2026 guidance reflects standalone Devon operations.

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