Devon Energy Corp.

Strong Operational Performance: Devon Energy achieved a record fourth-quarter oil production of 398,000 barrels per day and a 154% proved reserve replacement ratio, generating $3 billion in free cash flow in 2024. This performance highlights the company's efficiency and strong asset management, particularly in the Eagle Ford and Grayson Mill assets.

Dividend Increase: The Board approved an increase in the quarterly fixed dividend to $0.24 per share, reflecting a 9% improvement over 2024. This emphasizes Devon's commitment to returning value to shareholders while maintaining a solid financial position.

Strategic Partnership Dissolution: The dissolution of the joint venture with BPX in the Eagle Ford is expected to yield over $2 million in drilling and completion cost savings per well. Control over the Blackhawk field's operations is anticipated to enhance overall returns and operational efficiency, offering significant upside potential.