Oil and gas exploration company Devon Energy Corporation (NYSE: DVN) has announced financial results for the first quarter of 2023.
- Total revenues edged up to $3.82 billion in the March quarter from $3.81 billion in the same period of 2022
- Net income was $995 million or $1.53 per share in Q1, compared to $989 million or $1.48 per share last year
- Oil production reached an all-time high of 320,000 barrels per day during the three-month period
- The Exotic Cat Raider project achieved per-well rates as high as 7,200 Boe per day
- Operating cash flow was $1.7 billion and free cash flow reached $665 million in the first quarter
- Devon’s board of directors increased the share-repurchase authorization by 50% to $3.0 billion
Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!
Most Popular
UAL Earnings: United Airlines Q2 adj. earnings decline; revenue up 2%
United Airlines Holdings, Inc. (NYSE: UAL) on Wednesday announced financial results for the second quarter of 2025. Revenues missed Wall Street's expectations. The aviation giant's second-quarter earnings, excluding special items,
GM set to report Q2 results amid tariffs headwinds and EV momentum
After entering FY25 on a positive note, General Motors (NYSE: GM) is preparing to report its second-quarter results next week. The company is planning heavy investments to shift production from
What to expect from Lamb Weston’s (LW) Q4 2025 earnings report
Shares of Lamb Weston Holdings, Inc. (NYSE: LW) were down over 1% on Wednesday. The stock has dropped 7% over the past three months. The frozen potato products maker is
