Devon Energy press release (NYSE:DVN): Q2 Non-GAAP EPS of $0.84 misses by $0.02.
Based on the strength of results to date, Devon is increasing its full-year 2025 oil production forecast to a range of 384,000 to 390,000 barrels per day. The company is also increasing its total production outlook and now expects volumes to be in the range of 825,000 to 842,000 Boe per day. Devon has also revised its full-year capital guidance to a range of $3.6 billion to $3.8 billion, down from the previous estimate of approximately $3.8 billion. This $100 million reduction largely reflects the success of the company’s business optimization plan that has resulted in capital reductions for two consecutive quarters.
