DEVON ENERGY OVERVIEW OUR PURPOSE FOUNDED TOTAL PRODUCTION 1971 820,000 BOED PROVIDING ENERGY THAT FUELS HEADQUARTERS PUBLICLY TRADED OKLAHOMA CITY NYSE: DVN MODERN LIFE. EMPLOYEES ENTERPRISE VALUE 2,300 30 BILLION OUR…
OUR STRATEGIC PRIORITIES STRATEGIC OPERATING EXCELLENCE Operating safely, reliably, and in an environmentally responsible manner Embrace innovative thinking and technology to improve business performance PRIORITIES ADVANTAGED…
DEVON ENERGY PORTFOLIO OPERATING AREAS ROCKIES PREMIER MULTI-BASIN 25% 195 MBOED PORTFOLIO NGLs DIVERSIFIED COMMODITY MIX PRODUCT MIX ANADARKO BASIN OPERATING SCALE 79 MBOED 27% 48% DELAWARE BASIN ENHANCES…
ADVANTAGED OPERATING SCALE & DIVERSIFICATION TOP U.S. ONSHORE PURE-PLAY PRODUCERS TOTAL PRODUCTION (MBOED) 1,000 750 Total Production (MBOED) Oil Production (MBOD) 500 250 0 TOP ONSHORE PRODUCERS Note:…
ASSET OVERVIEWS DEVONENERGY.COM
DELAWARE BASIN OVERVIEW DELAWARE BASIN 400,000 NET ACRES World-class oil resource with stacked pay potential PBI POTATO BASIN TODD THISTLE / GAUCHO Delivering top-tier well productivity Lea Economies of scale COTTON…
DELAWARE BASIN KEY STATISTICS CAPITAL PROGRAM TOTAL PRODUCTION VOLUMES (MBOED) 488 2024 2025 474 Activity Plan 461 458 Operated rigs (average) 15 12 437 Wells online (gross operated) 231 260 Upstream capital ( in…
ROCKIES OVERVIEW POWDER RIVER BASIN 300,000 NET ACRES Campbell 24% Williams ROCKIES Other Mountrail Assets Q1 2025 DEVON FORT BERTHOLD RESERVATION PRODUCTION North Dakota Montana McKenzie Dunn WILLISTON…
ROCKIES KEY STATISTICS CAPITAL PROGRAM TOTAL PRODUCTION VOLUMES (MBOED) 2024 2025 191 195 Activity Plan Operated rigs (average) 2 4 79 79 79 Wells online (gross operated) 52 85 Upstream capital ( in billions) 0.4 1.0 Q1 2024…
EAGLE FORD OVERVIEW Repeatable resource play with significant oil in place Dissolved partnership in Dewitt County in Q2 2025 Gonzales providing development flexibility Expect material capital savings of 2.7 million per well…
EAGLE FORD KEY STATISTICS CAPITAL PROGRAM TOTAL PRODUCTION VOLUMES (MBOED) 2024 2025 92 Activity Plan 79 79 75 70 Operated rigs (average) 4 2 Wells online (gross operated) 103 80 Upstream capital ( in billions) 0.6 0.5 Q1…
ANADARKO BASIN OVERVIEW ANADARKO BASIN 300,000 NET ACRES Blaine Repeatable resource play with Kingfisher exposure to gas & NGL resource Capital efficiency enhanced by drilling carry with Dow Activity focused on Meramec &…
ANADARKO BASIN KEY STATISTICS CAPITAL PROGRAM TOTAL PRODUCTION VOLUMES (MBOED) 2024 2025 84 87 Activity Plan 82 79 Operated rigs (average) 3 2 74 Wells online (gross operated) 66 30 Upstream capital ( in billions) 0.2…
BUSINESS OPTIMIZATION DEVONENERGY.COM
BUSINESS OPTIMIZATION PLAN Capture efficiencies through design CAPITAL TARGETING optimization, cycle time reductions, EFFICIENCY facility standardization, and vendor management OPPORTUNITIES TO IMPROVE Use advanced analytics…
PATHWAY AND TIMING TO DELIVER IMPROVEMENTS BY CATEGORY TIMING TO DELIVER RUN-RATE IMPROVEMENTS (MM) (MM) Capital Efficiency 300 MM 1,000 1.0 750 BILLION Corporate Cost Reductions Production 500 150 MM Optimization…
BUSINESS OPTIMIZATION INITIATIVES UNDERWAY Dynamic capital planning Improved contracts driving greater CAPITAL PRODUCTION COMMERCIAL realizations CORPORATE COST EFFICIENCY OPTIMIZATION Standardization of wellsite facilities…
FINANCIAL & SHAREHOLDER RETURNS DEVONENERGY.COM
SIGNIFICANT FINANCIAL STRENGTH AND LIQUIDITY TOTAL LIQUIDITY CASH BALANCE LOW LEVERAGE 4.2 B 1.2 B 1.0x CASH & UNDRAWN CASH POSITION NET DEBT-TO-EBITDAX CREDIT FACILITY AS OF 3/31/2025 AS OF 3/31/2025 CREDIT RATINGS DEBT…
2025 OUTLOOK: INCREASING OIL PRODUCTION WITH LOWER CAPITAL UPDATED 2025e OUTLOOK ATTRACTIVE FREE CASH FLOW 4.0 OIL 382MBOD 388 3.3 FREE CASH FLOW VOLUMES 1% IMPROVEMENT 3.0 2.6 2025e Free Cash Flow (B) FREE CASH…
DISCIPLINED RETURN OF CAPITAL TO SHAREHOLDERS RETURNING VALUE TO Targeting up to 70% CASH-RETURN in 2025 SHAREHOLDERS% OF FREE CASH FLOW CASH RETURNS UP TO INCREASED quarterly dividend by 9% to 0.24 per share 70% Consistent…
Q1 2025 EARNINGS SUMMARY Net core earnings change quarter over quarter in millions 23 779 756 (165) 59 137 (31) Q4 2024 Production Realized Prices & Production DD&A G&A & Other Q1 2025 Volumes Hedge Settlements Expenses…
Q1 2025 CASH FLOW SUMMARY Exiting the quarter with strong liquidity in millions Q1 2025 Benchmark Prices 137 (973) Oil (/Bbl) WTI : 71.50 1,829 Natural Gas (/Mcf) Henry Hub: 3.65 NGLs (/Bbl) Mont Belvieu: 29.65 (455) (150)…
OUR INVESTMENT-GRADE FINANCIAL STRENGTH Outstanding debt maturities ( in millions) 4,200 Cash 1,200 2.5B Retired 472 million of notes at maturity in 2024…
INVENTORY DEPTH UNDERPINS DELAWARE SUSTAINABILITY DELAWARE BASIN INVENTORY BY KEY OPERATOR 4,000 Gross Operated Locations (10,000) 2,000 0 TOP DELAWARE PRODUCERS Note: Date sourced from Enverus Permian Basin…
FOCUSED ON ENVIRONMENTAL EXCELLENCE 2024 SUSTAINABILITY REPORT HIGHLIGHTS ENVIRONMENTAL TARGETS (1) GHG EMISSIONS SCOPE 1 & 2 Flared volume intensity was reduced by 82% (1) NET ZERO GHG EMISSIONS FOR SCOPE 1 & 2 BY 2050 Scope 1…
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