Devon Energy Q2 2021 Earnings Report
Key Takeaways
Devon Energy reported a strong second quarter in 2021, marked by an increase in the fixed-plus-variable dividend by 44 percent to $0.49 per share, a substantial rise in operating cash flow to $1.1 billion, and free cash flow generation of $589 million. Oil production exceeded midpoint guidance, averaging 291,000 barrels per day.
Fixed-plus-variable dividend increased by 44 percent to $0.49 per share.
Operating cash flow increased 85 percent from the prior quarter to $1.1 billion.
Free cash flow generation accelerated to $589 million, a 6-fold increase from the prior quarter.
Oil production exceeded midpoint guidance, averaging 291,000 barrels per day in the second quarter.
Devon Energy
Devon Energy
Forward Guidance
Devon remains on track to meet the strategic objectives underpinning its 2021 capital program and is committed to its maintenance capital program without any modifications to its capital budget or oil production outlook in 2021.