Q2 FY26 · Ended Jun 30, 2026 · View SEC filing
Wells took barely a third of the cash
Capital spending absorbed 35.9% of operating cash flow, against 61.9% a year earlier, so most of the quarter's cash stayed free.
For investorsWhat the combined company's cash flow depends on from here
For foundersWhat an all-stock merger teaches about scale and dilution
Oil fell to 37.0% of output as Coterra's gas arrived, and that gas sold at deep regional discounts.
Devon paid for Coterra in stock, so diluted earnings per share rose only to $2.03 from $1.41.
Production costs and depletion both took a smaller share of sales than a year earlier, which the filing ties to the post-merger mix.
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Business Lens describes Devon Energy from its own filings with the SEC. It is not a view on its shares, a target, or advice to buy, sell or hold anything; figures are as filed and may be restated by the company later. The filing is linked above.
