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
PNC Earnings: A snapshot of PNC Financial Services’ Q4 2025 results
PNC Financial Services Group, Inc. (NYSE: PNC) on Friday reported higher revenue and net income for the fourth quarter of fiscal 2025. The numbers also beat analysts' estimates. Total revenues
Earnings Preview: Intuitive Surgical (ISRG) looks poised for a strong Q4
Intuitive Surgical, Inc. (NASDAQ: ISRG) is a pioneer in robotic-assisted surgical technology, developing advanced systems that enable healthcare professionals to perform minimally invasive procedures with greater precision and efficiency. Having
What to expect when Alaska Air Group (ALK) reports Q4 2025 earnings results
Shares of Alaska Air Group (NYSE: ALK) gained 3% on Thursday. The stock has dropped 26% in the past 12 months. The airline is scheduled to publish its earnings results
