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Revenue by Segment
Highlights earnings from different business areas, indicating which segments drive growth and profitability for Devon Energy.Devon’s core oil/gas sales remain cyclical but backed by clear production and cash‑flow momentum; the latest quarter’s large negative derivatives swing created meaningful revenue and earnings noise and ties directly to the call’s disclosed tax/cash‑tax volatility. Meanwhile Marketing & Midstream has steadily grown into a stabilizing, fee‑like revenue stream—supporting the planned dividend lift and future buybacks—so investors should focus on derivative mark‑to‑market swings and Waha gas exposure until Blackcomb and commercial fixes reduce realization risk.
Date | Oil. Gas and NGL Sales | Oil, Gas and NGL Derivatives | Marketing and Midstream |
|---|---|---|---|
Jun 30, 2026 | $5.11B | $414.00M | $1.90B |
Mar 31, 2026 | $2.98B | -$701.00M | $1.53B |
Dec 31, 2025 | $2.58B | $184.00M | $1.36B |
Sep 30, 2025 | $2.81B | $80.00M | $1.44B |
Jun 30, 2025 | $2.71B | $236.00M | $1.34B |
Mar 31, 2025 | $3.13B | -$98.00M | $1.42B |
Dec 31, 2024 | $3.09B | -$84.00M | $1.40B |
Sep 30, 2024 | $2.67B | $227.00M | $1.13B |
Jun 30, 2024 | $2.80B | $23.00M | $1.10B |
Mar 31, 2024 | $2.63B | -$145.00M | $1.11B |