Devon Energy Q2 FY2026 Earnings Call
With Clay Gaspar (President and CEO), Shane Young (EVP and CFO), Blake Sirgo (EVP of Operations) and 3 more.
Devon Energy is a leading oil and gas producer in the U.S. with a premier multi-basin portfolio touching the Anadarko Basin, Eagle Ford, Marcellus Shale, Powder River Basin, Williston Basin, and anchored by a world-class acreage position in the Delaware Basin.
More about Devon Energy
Devon’s disciplined cash-return business model is designed to achieve strong returns, generate resilient free cash flow and return capital to shareholders, while focusing on safe and sustainable operations.
1Prepared remarks3 speakers
Good morning. Thank you for joining us on the call today. Last night, we issued Devon's second quarter 2026 earnings release and presentation materials. Throughout the call today, we will make reference to these materials to support prepared remarks. The release and slides can be found in the Investors section of the devon website. Joining me on the call today are Clay Gaspar, our President and Chief Executive Officer, Shane Young, our Executive Vice President and Chief Financial Officer, and other members of the…
Thank you, Dan. Good morning, everyone. This morning I'm excited to discuss our strong Q2 execution, the company's differentiated technology platform, assets and operational prowess, and the significant progress we've made in just under 100 days since the close of our merger with Coterra. First, let's turn to slide two of our investor deck we published yesterday. I want to start with who Devon is, an operations-focused, technology-forward energy powerhouse. This description is supported by three attributes that…
Thank you, Clay, and good morning, everyone. It's a privilege to be speaking with you on my first earnings call as CFO of Devon Energy. I couldn't be more excited about the future of our company and the opportunities that lie ahead for the company and our owners. Clay just walked you through the operational story. Let me pick it up on slide 10 with the scorecard. In summary, during the quarter, we beat guidance on every single measure. Oil production of 503,000 bpd came in 1.6% above the midpoint. Total production…
Thanks, Shane. That disciplined model extends to the portfolio itself. Our comprehensive portfolio review is well underway with a single objective, maximizing total shareholder value. It's a top organizational priority, and we're moving with speed and intention to enhance the value of our company by leveraging our differentiated skill set, a hot market for quality assets, and keeping an eye on the future value creation opportunities. We're evaluating every asset through a consistent framework of capital…