**Record Production and Growth Rates**: Devon Energy achieved an all-time quarterly production record of 728,000 barrels of oil equivalent (BOE) per day, including 335,000 barrels of oil per day. This marks a 12% year-over-year growth in production per share and surpasses guidance expectations every quarter this year.
**Optimistic 2025 Production Forecast**: For 2025, Devon expects to average around 800,000 BOEs per day, representing nearly 5% higher than previously estimated following the Grayson Mill acquisition. Additionally, oil volumes are projected to average about 380,000 barrels per day, driven by efficient operations and new acquisitions.
**Strong Free Cash Flow and Shareholder Returns**: Devon generated $786 million in free cash flow in Q3 and returned $431 million to shareholders through dividends and share buybacks. The company plans to target up to 70% of free cash flow as cash payouts and expects to continue significant repurchases, with a plan of $200 million to $300 million each quarter.