Devon Energy Provides Updated 2026 Outlook

Devon Energy announced its combined company outlook following the completion of its merger with Coterra Energy. The company expects 2026 production of 1.380 million barrels of oil equivalent per day with $4.9 billion in capital spending, primarily focused on the Permian Basin. Devon targets returning up to 70% of free cash flow to shareholders through dividends and share repurchases, while planning to retire $1.25 billion in debt and capture $600 million in synergies by 2027.