Tue, Aug. 4, 5:57 PM
- Devon Energy (NYSE:DVN) +2.5% AH after reporting better than expected Q2 earnings, helped by growth in its U.S. operations and cost reduction initiatives, even as revenues fell 25% Y/Y.
- DVN says Q2 total oil production averaged 270K bbl/day, up 32% Y/Y and beating the midpoint of guidance by 5K bbl/day, while U.S. oil production averaged a record high of 172K bbl/day, attributed to production from the Eagle Ford and Permian basin plays; including production from Canadian oil sands and heavy crude assets, Q2 total production averaged 674K boe/day, up 9% Y/Y.
- DVN guides its Q3 production outlook to 638K-676K boe/day and its full-year forecast to 649K-684K boe/day.
- Expects FY 2015 capital spending of of $4.4B-$4.8B, ~10% above the $4.1B-$4.4B range projected in February.
Tue, Aug. 4, 4:28 PM
Mon, Aug. 3, 5:35 PM
- ACHC, ACLS, AFG, AHS, AMSG, ARC, ATVI, AWAY, AWR, BKH, BW, CDE, CENT, CERN, CHUY, CSU, CVG, CWEI, CZR, DIS, DVA, DVN, DWA, ECOM, ECYT, ENPH, ENSG, EOX, EPAM, EPR, ETSY, EXAR, FSLR, FWM, G, GDOT, GHDX, GLUU, GNW, HCI, HIW, HRZN, INAP, INVN, JCOM, JIVE, LBTYA, LC, LF, LGND, MASI, MATX, MBI, MDRX, MHLD, MPO, MRCY, MTDR, NBR, NEWP, NFX, NSTG, NYMT, OAS, OCLR, OFIX, OKE, OKS, PAA, PAGP, PAYC, PBPB, PKD, PQ, PRMW, PTLA, PXD, PZZA, QNST, QUAD, REGI, REXX, RIGL, RLOC, RMTI, RPAI, RXN, SBRA, SKT, SMCI, SUPN, SYNC, THOR, TMH, TRMB, TROX, TTGT, TWO, TX, UNTD, UNXL, USNA, WR, WTR, XEC, XXIA, Y, Z, ZAGG, ZEN
Tue, May 5, 7:35 PM
- Devon Energy (NYSE:DVN) -1.3% AH after missing estimates for both Q1 earnings and revenues, hurt by lower oil prices even as it generated record oil production.
- DVN says it received an average price of $35.17/bbl without hedges for its oil during Q2; with hedges, the price improved to $56.29, which was still 39% below the $75.65/bbl received in the year-ago quarter.
- Q1 oil and gas output averaged 685K boe/day, up 22% Y/Y and 12K boe/day above the top of the company’s guidance range; oil production was a record 272K bbl/day, up 55% Y/Y and 12K bbl/day more than the top of the company’s guidance range.
- DVN raises production guidance for FY 2015, now expecting an increase of 25%-35%, up from its earlier forecast of 20%-25% growth.
- DVN updates its 2015 planned capital spending to $3.9M-$4.1M, a $250M reduction from previous guidance.
Tue, May 5, 4:32 PM
Mon, May 4, 5:35 PM
- ACLS, AGU, AIZ, ALL, AMRS, AMSG, ANAD, ANDE, ARC, ATSG, AWR, AXLL, BIO, BRDR, CENT, CERS, CLUB, COUP, CRAY, CSU, CTL, CVG, CYH, DK, DKL, DLR, DTLK, DVN, EA, ENPH, EXAM, FISV, FOSL, FTR, GCA, GHDX, GMED, GNMK, GPOR, GRPN, HK, HLF, HRZN, IAG, ICUI, IGTE, IRWD, JIVE, KAR, KGC, KONA, LC, MHLD, MM, MYGN, MYL, NDLS, NFX, NVGS, NYMT, OCLR, OKE, OKS, OUT, PAA, PACB, PAGP, PBPB, PKD, PXD, PZZA, QGEN, QNST, QUAD, REGI, REXX, RLOC, RNR, RP, RUBI, SBRA, SCTY, SKUL, SLF, SM, SPA, SUPN, TEG, TMH, TNET, TRNX, TSRA, TTGT, USNA, VVUS, WAGE, WES, WGP, WR, WSR, WSTC, WTR, WTW, XXIA, Y, ZAGG, ZEN, ZLTQ, ZU
Tue, Feb. 17, 7:22 PM
- Devon Energy (NYSE:DVN) +0.5% AH after Q4 earnings fail to meet Wall Street expectations, although operating revenue more than doubled and production exceeded the company's guidance.
- DVN says it is cutting its 2015 exploration and production budget by 20% from 2014, planning on capital spending $4.1B-$4.4B; however, even with reduced spending, DVN’s Y/Y oil production growth outlook remains unchanged at 20%-25%.
- Total production from DVN’s retained assets averaged 664K boe/day during Q4, exceeding company guidance range by 9K boe/day and equaling a 20% Y/Y increase; Q4 oil production was a record 239K bbl/day, exceeding the top end of company guidance range and representing a 48% Y/Y increase.
- DVN says Q4 82% growth in U.S. oil production largely was attributable to well results from the Eagle Ford assets, where production averaged 98K boe/day, double the totals in its first month of ownership in March 2014.
Tue, Feb. 17, 4:18 PM
Mon, Feb. 16, 5:35 PM
Nov. 4, 2014, 5:10 PM
- Following its Q3 performance, Devon Energy (NYSE:DVN) is hiking the midpoint of its 2014 production outlook from retained assets by 3% to 617K BOE/day. Total production growth guidance has been raised to 14% from 11%.
- Q3production from retained assets totaled 640K BOE/day, +19% Y/Y and exceeding guidance. Oil/liquids accounted for 55% of retained asset production.
- Pre-tax cash margin rose 20% Y/Y to $29.42/BOE. Operating cash flow fell 3% to $1.56B.
- With oil prices falling, Devon has "entered into various swap-and-collar contracts to hedge approximately 60 percent of its expected [Q4] oil production at an average floor price of $92 per barrel."
- Q3 results, PR
Nov. 4, 2014, 4:19 PM
Nov. 3, 2014, 5:35 PM
- ADEP, AMRS, ATVI, AWAY, AXLL, BIO, BIOL, BIRT, CALD, CBSO, CDXS, CERS, CHUY, CKEC, COHR, CORT, COUP, CRTO, CSU, DOX, DVN, ENPH, EXAM, EXEL, FANG, FEYE, FOXA, FRGI, GAS, GHDX, HR, ITRI, IVR, JAZZ, JIVE, JKHY, JMBA, KAR, MITT, MOSY, MPO, MYGN, NP, NRP, NSTG, NYMT, OAS, OCLR, OKE, OKS, PACD, PAYC, PBPB, PCYC, PEGA, PHH, PRI, PXD, PZZA, REGI, REXX, RLOC, RNR, RP, SBAC, SN, SPA, SQNM, TMH, TNET, TRIP, TTGT, TWO, TWOU, TX, UIL, WPX, XEC, XNPT, ZAGG, ZU
Aug. 6, 2014, 8:58 AM
- Devon Energy (NYSE:DVN) +1.2% premarket after Q2 earnings matched estimates and revenues rose 46% Y/Y, easily beating expectations, helped by production growth in high-margin oil, as well as higher prices.
- Q2 production of oil, natural gas and natural gas liquids, excluding production associated with divestiture properties, rose 14% Y/Y to 620K boe/day, driven by growth in oil production, which jumped 34% to 205K bbl/day; oil production from U.S. operations surged 79% Y/Y.
- Q2 revenue from oil, natural gas and natural gas liquids sales totaled $2.7B, up 21%, attributable to the increase in high-margin oil production combined with improved oil price realizations; these factors resulted in Q2 oil sales increasing to more than 60% of DVN's total upstream revenues.
- Overall average realized prices including hedging impacts climbed 20%, including growth of 6% for oil.
Aug. 6, 2014, 8:03 AM
Aug. 5, 2014, 5:30 PM
- ANR, AOL, APO, ARIA, AVA, AVT, BRKR, CEQP, CHK, CLH, CMLS, CNP, CONE, CSTE, CTSH, DBD, DISH, DNR, DVN, DWSN, EE, ELOS, GEO, GOV, GWPH, HFC, HNT, INXN, IPXL, ITC, KELYA, LINC, LIOX, MDLZ, MEMP, MVIS, NAVB, NUS, PERI, PH, PKD, POWR, RDC, RL, ROC, SBGI, SE, SEP, SF, SJI, SKYW, STWD, TAP, THI, TRGT, TWX, VC, VIAB, VITC, VOYA, WD, WIX, WPX, ZINC
May 7, 2014, 8:58 AM
- Devon Energy (DVN) +1.6% premarket after reporting a Q1 profit compared with a year-ago loss when it wrote down the value of some natural gas assets.
- Q1 oil and gas output totaled 691K boe/day, up 0.6% Y/Y; excluding production associated with divestiture properties, top-line production from Devon's retained, go-forward asset base rose 7% Y/Y to 563K boe/day.
- Led by the Permian Basin and Eagle Ford, DVN's most significant growth came from retained U.S. operations, where oil production jumped 56% Y/Y.
- Average realized prices, before hedging impacts, jumped 29% for oil and 51% for natural gas.
DVN vs. ETF Alternatives
Other News & PR