Devon Energy Corporation reported second-quarter 2026 results following the May 7 completion of its transformative merger with Coterra Energy. The company generated net earnings of $1.9 billion, or $2.03 per diluted share, and produced an average of 503,000 barrels of oil per day. Operating cash flow reached $3.7 billion, yielding $1.7 billion in adjusted free cash flow after $1.3 billion in capital expenditures. Devon returned $1.06 billion to shareholders through a newly increased quarterly dividend of $0.32 per share, share repurchases, and debt retirement. The board declared a fixed quarterly cash dividend of $0.32 per share for the third quarter, payable on September 30, 2026, to holders of record as of September 15, 2026. Devon Energy is an oil and gas producer operating primarily in the Delaware Basin.
