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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.
DVN Revenue by Segment
| 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 |
| Dec 31, 2023 | $2.74B | $324.00M | $1.08B |
| Sep 30, 2023 | $2.88B | -$194.00M | $1.15B |
| Jun 30, 2023 | $2.49B | -$76.00M | $1.04B |
| Mar 31, 2023 | $2.68B | $64.00M | $1.08B |
| Dec 31, 2022 | $3.14B | -$53.00M | $1.21B |
| Sep 30, 2022 | $3.67B | $248.00M | $1.52B |
| Jun 30, 2022 | $4.10B | -$170.00M | $1.70B |
| Mar 31, 2022 | $3.17B | -$683.00M | $1.32B |
| Dec 31, 2021 | $2.98B | $22.00M | $1.27B |
| Sep 30, 2021 | $2.63B | -$335.00M | $1.17B |
| Jun 30, 2021 | $2.15B | -$703.00M | $966.00M |
| Mar 31, 2021 | $1.76B | -$528.00M | $821.00M |
