TotalEnergies said that it will sell its stake of 50% in the producing Surmont oil sands asset in Canada to its partner...
By: Reuters – A move by Mexico’s energy regulator to declare some natural gas-fired power as “clean” drew criticism from environmental groups...
May 26 (Reuters) – The U.S. oil and gas rig count fell by 44 this month, the biggest drop in three years,...
In the shadow of the Permian Basin, Citizen Energy, an Oklahoma company busy in the Anadarko Basin, portrayed itself as a “great...
A “generational gamechanger.” ~Stillwater state Rep. John Talley Story By Jerry Bohnen |OK Energy Today| It’s what Stillwater state Rep. John Talley...
BY Pietro Pitts|HART ENERGY|FORT WORTH, Texas – Double Eagle IV has expanded its Permian Basin leasehold to about 40,000 acres and is...
Story By Zoltan Ban. |Seeking Alpha| Investment thesis: Chesapeake (NASDAQ:CHK) seems like a very obvious bet as the US competes for dominance of...
By: CNBC – Saudi Oil Minister Prince Abdulaziz bin Salman on Tuesday told market speculators to “watch out,” reiterating his warning that...
Story By David Uberti |The Wall Street Journal| The U.S. government’s attempt to refill the skyscraper-sized caverns that hold the country’s emergency...
Story by Andreas Exarheas|Rigzone| Two-thirds of North America is at risk of energy shortfalls this summer during periods of extreme demand, the...
Devon Energy (NYSE: DVN) delivered a solid performance in Q4 2024, capping off a year of record production and strong financial results. The company reported impressive oil and total volume growth, generated substantial free cash flow, and executed strategic acquisitions to strengthen its portfolio. Looking ahead, Devon has outlined an ambitious 2025 strategy that prioritizes capital efficiency, operational improvements, and shareholder returns.
Devon continued to execute its operating plan effectively, achieving record oil production of 398,000 barrels per day, surpassing its guidance. The company generated $738 million in free cash flow, reinforcing its commitment to disciplined capital allocation. Shareholder returns remained a priority, with $444 million in cash distributed during the quarter through dividends and share repurchases.
Operationally, Devon maintained efficient capital spending, spending $872 million—3% below its guidance. The successful integration of the Grayson Mill acquisition in the Rockies has also exceeded expectations, contributing to production growth and operational synergies.
One of the key developments in Q4 was Devon’s decision to dissolve its Eagle Ford partnership with BPX, securing operatorship of 46,000 net acres in the Blackhawk field. This move grants the company greater development flexibility and is expected to result in significant drilling and completion (D&C) savings, enhancing the asset’s net present value (NPV) and overall returns.
For 2025, Devon projects production growth of 10% year-over-year, with total volumes expected to range between 805,000 and 825,000 barrels of oil equivalent per day (BOE/d). The company anticipates generating $3.0 billion in free cash flow at $70 WTI, while total capital expenditures are expected to be between $3.8 billion and $4.0 billion, slightly lower than previous guidance.
Key asset focus areas for 2025 include:
Oil futures were lifted Tuesday, ending with gains after a drone attack by Ukraine on a pipeline carrying crude from Kazakhstan across southern Russia curtailed flows.
At the same time, preliminary talks between Russia and the U.S. aimed at ending the war in Ukraine capped upside due to the potential for negotiations to result in the easing of sanctions on Russia’s energy sector.
Fermi America, a Texas-based company co-founded by former U.S. Energy Secretary and former Texas...
Oklahoma City, OK – September 16, 2025 — In a market where many mineral...
The temporary closure of the Chief Drive In Theatre in Ninnekah has sparked local...
By Mella McEwen,Oil Editor | MRT | Crude prices have spent much of the year...
The International Energy Agency (IEA) has issued a stark warning that the world’s oil...
Canada’s ambitions to become a global energy powerhouse gained momentum just two months after...
by Bloomberg, via RigZone.com | F.Kozok, S.Hacaoglu | Turkey plans to sign new energy deals with...
President Donald Trump used his address at the United Nations General Assembly this week...
Natural gas remains the leading source of electricity generation in the United States, but...
Managed money speculators hit record bearish positions on WTI even as the IEA forecasts...
West Texas holds a treasure trove of natural gas that could become a critical...
by Bloomberg [via RigZone.com] |Veena Ali-Khan, Mia Gindis| Oil notched its biggest weekly gain...
Have your oil & gas questions answered by industry experts.