Devon Energy unveils value enhancing business optimization plan
Devon Energy announced its business optimization plan to improve margins and capital efficiency, growing free cash flow generation and driving significant shareholder value.
“Our organization has been diligently advancing this initiative and has already secured marketing agreements to drive a material margin improvement through year-end 2026,” said Clay Gaspar, president and CEO. “Concurrently, we have implemented technological advancements, including advanced analytics and process automation, that are further enhancing our operating performance. These combined efforts are anticipated to achieve approximately $300 million of cash flow uplift by the end of 2025, reinforcing our financial resilience.”
The plan includes actions to achieve more efficient field-level operations and improvements in drilling and completion costs while improving operating margins and corporate costs. Approximately 30% of the estimated improvements are expected to be accomplished by year-end 2025, with the remaining savings realized by year-end 2026.
