Devon Energy raises FY oil production view by 1%

Based on the strength of first quarter results, Devon is increasing its full-year 2025 oil production forecast by 1 percent to a range of 382,000 to 388,000 barrels per day. The company is also increasing its total production outlook and now expects volumes to be in the range of 810,000 to 828,000 Boe per day. Devon has also revised its full-year capital guidance to a range of $3.7 billion to $3.9 billion, down from the previous estimate of approximately $3.9 billion. This $100 million reduction reflects the early success of the company’s recently launched business optimization plan.