Devon Energy Reports First-Quarter 2023 Results; Declares Quarterly Dividend and Expands Stock-Repurchase Program by 50 Percent to $3 Billion

OKLAHOMA CITY, May 08, 2023 (GLOBE NEWSWIRE) -- Devon Energy Corp. (NYSE: DVN) today reported financial and operational results for the first-quarter 2023. The company also declared its quarterly dividend and expanded its stock-repurchase program. Devon’s earnings release, supplemental financial tables, guidance and related earnings presentation can be accessed via the Investor Relations section of Devon’s website, www.devonenergy.com.

The company’s first-quarter conference call will be held at 10:00 a.m. Central (11:00 a.m. Eastern) on Tuesday, May 9, 2023, and will serve primarily as a forum for analyst and investor questions and answers.

ABOUT DEVON ENERGY

Devon Energy is a leading oil and gas producer in the U.S. with a premier multi-basin portfolio headlined by a world-class acreage position in the Delaware Basin. Devon’s disciplined cash-return business model is designed to achieve strong returns, generate free cash flow and return capital to shareholders, while focusing on safe and sustainable operations. For more information, please visit www.devonenergy.com

Investor Contacts		Media Contact
Scott Coody, 405-552-4735		Lisa Adams, 405-228-1732
Chris Carr, 405-228-2496