Investor Presentation January 2021 NYSE: DVN devonenergy.com
A Leading Multi-Basin Energy Company ACCRETIVE ON ALL RELEVANT FINANCIAL METRICS + EXPECTED CLOSING Jan. 7, 2021 (Combines the best capabilities of both organizations) ACCELERATES CASH-RETURN BUSINESS MODEL WILLISTON (Merger…
Our Disciplined Cash-Return Business Model With this strategic combination we are PROGRESSIVE DISCIPLINED OIL GROWTH targets: up to 5% annually accelerating our transition to a CASH-RETURN GROWTH STRATEGY Growing margins through…
Committed to Top-Tier ESG Performance ENVIRONMENT SOCIAL & SAFETY GOVERNANCE Water recycling has increased 400% Permian Strategic Partnership provided ESG incorporated in COMPENSATION since 2017 in the Delaware Basin(1) 30 MILLION to…
Advantaged Capital Structure Strong liquidity with no near-term debt maturities Balance sheet strength provides competitive advantage (1) Pro forma outstanding debt maturities over the next five years (MM) Net debt to 2020e EBITDAX…
Dominant Delaware Basin Position COMBINED DELAWARE BASIN ACREAGE POSITION World-class oil resource opportunity DELAWARE PRODUCTION Stacked-pay position across 400,000 net acres PROFILE Acreage in economic core of the play 60% OF…
Acreage Located in the Best Part of the Play Top-tier well productivity Highest oil content Lower operating costs (less water disposal) IP BOE/Lateral foot Gas-oil ratio, SCF/BBL Water-oil ratio, BBL/BBL DVN & WPX Focus Area DVN &…
Track Record of Operational Excellence Well productivity showcases asset quality SUPERIOR 40% All wells drilled since 2018. Includes operators with more than 100 wells (source IHS/Devon) WELL Avg. 90-Day IPs BOED, 20:1 1,000…
Capturing 575 Million in Annual Cost Savings Combination to drive cost synergies by year-end 2021 Annual cost savings expected by year-end 2021 (MM) All-In Expected To Be PV-10 OF COST 2BILLION Costs (1) 100 Completed By SAVINGS…
Framework for 2021 Capital Allocation TOP PRIORITIES IN CURRENT MARKET 1 1 Protect financial strength GREATER THAN Evaluate select growth projects 45 Limit reinvestment: up to 5% growth 2 Fund fixed quarterly dividend Prioritize…
Positioned for Attractive Free Cash Flow Yields Operations scaled to lower breakeven funding Free cash flow at maintenance capital 2021e pro forma maintenance capital assumptions (1) 2021e pro forma free cash flow sensitivities 17%…
Free Cash Flow Priorities FIXED DIVIDEND VARIABLE DIVIDEND STRATEGY Paid quarterly at 0.11 per share Target payout: up to 10% of cash flow STEP 1: VARIABLE DIVIDEND CALCULATION Operating Cash Flow (GAAP) DEBT REDUCTION PROGRAM Cash…
Why Own the Go-Forward Devon PREMIER MULTI-BASIN PORTFOLIO DISCIPLINED RETURNS-DRIVEN STRATEGY DELIVERING TOP-TIER OPERATING RESULTS SIGNIFICANT FINANCIAL STRENGTH & LIQUIDITY COMMITTED TO RETURNING CASH TO…
Investor Contacts & Notices Investors and security holders may obtain copies of the registration statement and the joint proxy statement/prospectus and other documents Investor Relations Contacts containing important information about…
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