DEVON ENERGY CORP/DE has recently released its 10-Q report, revealing key insights into its financial performance for the third quarter of 2025. The company, founded in 1971 and headquartered in Oklahoma City, engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States, with operations focused in the Delaware Basin, Rockies, Eagle Ford, and Anadarko Basin.
In the third quarter of 2025, Devon Energy Corporation reported production totaling 853 MBoe/d, exceeding guidance by 2%. The company also completed approximately 83% of its authorized $5.0 billion share repurchase program, with approximately 92.7 million of its common shares purchased for approximately $4.1 billion. Devon Energy Corporation exited the quarter with $4.3 billion of liquidity, including $1.3 billion of cash, and generated $1.7 billion of operating cash flow. The company paid dividends of $151 million and declared approximately $150 million of dividends to be paid in the fourth quarter of 2025.
Realized prices contributed to a $42 million increase in earnings from the second quarter of 2025 to the third quarter of 2025. The company currently has approximately 30% and 35% of its remaining anticipated 2025 oil and gas production hedged, respectively. For 2026, Devon Energy Corporation currently has approximately 20% and 30% of its anticipated oil and gas production hedged, respectively.
Devon Energy Corporation's field-level cash margin for the third quarter of 2025 was $1,914 per BOE, compared to $1,811 per BOE in the second quarter of 2025. Additionally, the company reported a decrease in oil and gas depletion, depreciation, and amortization (DD&A) expenses, which were $879 million in the third quarter of 2025, compared to $914 million in the second quarter of 2025.
The company's net earnings for the nine months ended September 30, 2025, were $2.1 billion, compared to net earnings of $2.3 billion for the first nine months ended September 30, 2024. Devon Energy Corporation's production volumes for the nine months ended September 30, 2025, showed an increase compared to the same period in 2024, with oil, gas, and NGLs all experiencing growth in production.
As a result of these announcements, the company's shares have moved 0.05% on the market, and are now trading at a price of $32.355. For the full picture, make sure to review DEVON ENERGY CORP/DE's 10-Q report.
