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Dec 31, 2020
Devon Energy Q4 2020 Earnings Report
Devon Energy reported financial and operational results for Q4 2020.
Key Takeaways
Devon Energy reported a net loss of $102 million for the fourth quarter of 2020. Pro forma operating cash flow totaled $773 million, which funded capital requirements and generated $263 million of free cash flow. The board declared an industry-first variable dividend of $0.19 per share.
Board declares industry-first variable dividend of $0.19 per share based on fourth-quarter results
Variable dividend is in addition to previously declared fixed quarterly dividend of $0.11 per share
Pro forma oil production exceeded guidance by 5 percent in the fourth quarter
Well productivity and capital efficiency gains in the Delaware Basin headlined operating results
Forward Guidance
Devon is raising its full-year 2021 oil production forecast to a range of 280,000 to 300,000 barrels per day with an upstream capital budget of $1.6 billion to $1.8 billion.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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